Jourdan Resources Holds Agm and Announces Closing of First Tranche of Non-Brokered Private Placement
NEWS RELEASE
JOURDAN RESOURCES HOLDS AGM AND ANNOUNCES CLOSING OF
FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT
Mississauga (Canada), June 12, 2018: JOURDAN RESOURCES INC. (the “Corporation”)
(TSXV: JOR) is looking forward to meet shareholders at its annual and special meeting of
shareholder being held today at 65 Queen Street West, Suite 805, Toronto, Ontario
Canada M5H 2M5 at 9:00 a.m. (Eastern Standard Time).
Jourdan is also pleased to announce that further to its press release dated March 1, 2018
and subject to receiving final regulatory approvals, it has closed the first tranche of its
previously announced non -brokered private placement (the " Offering") by issuing
12,313,332 units (each a "Unit") of the Co rporation at a price of $0. 06 per Un it; and
8,870,000 common shares (each a "Share") of the Co rporation issued on a "CEE flow -
through" basis pursuant to the Income Tax Act (Canada) ( each a "FT Share") at a price of
$0.075 per F T Share, for aggregate gross proceeds of $1,404,049.92 (the " First
Tranche").
Each Unit consists of one Share and one Share purchase warrant (a " Warrant"). Each
Warrant will entitle the holder to acquire one Share at an exercise price of $0. 10 per Share
on that date that is 24 months from the issuance closing date.
The Corporation intends to use the net proceeds of the Offering to fund exploration
expenditures on its portfolio of mineral properties and for general working capital.
Related Party Transaction
A portion of the First Tranche constituted a “related party trans action” as set out in
Multilateral Instrument 61-101 Protection of Minority Shareholders in Special Transactions
(“MI 61-101”) as Michael Dehn, President, CEO and director of the Corporation , has been
issued through Avanti Management & Consulting Limited , under the Offering 1,000,000
Units. Accordingly, the part of the First Tranche constituted to that extent a "related party
transaction" under MI 61 -101. The transaction is exempt from the formal valuation and
minority shareholder approval requirements unde r MI 61 -101 as neither the fair market
value of any securities issued to or the consideration paid by such persons exceeds 25%
of the Corporation's market capitalization. The Corporation did not file a material change
report more than 21 days before the cl osing of the First Tranche as it wished to close on
an expedited basis for sound business reasons and did not know when the transaction
would be completed.
RESOURCES
RESSOURCES
About Jourdan Resources
Jourdan Resources Inc. is a Canadian junior mining exploration company trad ing under
the symbol JOR on the TSX Venture Exchange and 2JR1 on the Stuttgart Stock
Exchange. The Company is focused on the acquisition, exploration, production, and
development of mining properties in lithium. The company’s properties are primarily in
spodumene bearing pegmatite rich La Corne Batholith, around North American Lithium’s
producing Quebec Lithium Mine.
Please visit the Company’s website at www.jourdanresources.com
For further information please contact:
Michael Dehn
President and CEO
Tel: (647) 477-2382
Fax: (647) 477-2389
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.