Jourdan Resources Update ON Private Placements and Further Disclosure ON Acquisition of the Rome Lithium Property
NEWS RELEASE
JOURDAN RESOURCES UPDATE ON PRIVATE PLACEMENTS AND
FURTHER DISCLOSURE ON ACQUISITION OF THE ROME LITHIUM
PROPERTY
Mississauga (Canada), June 6, 2018: JOURDAN RESOURCES INC. (the “Corporation”)
(TSX-V NEX: JOR.H ) is pleased to announce that, f urther to its March 1, 2018 press
release, a first tranche of the Offering will be closed on June 11, 2018.
In preparation of the upcoming shareholders meeting, schedule for June 11, 2018, t he
Corporation is also pleased to provide additional information o n the previously announced
non-arm’s length assignment agreement (the “ Agreement”) made effective August 9,
2017, with Fairmont Resources Inc. (“ Fairmont”) and Frédéric Bergeron (“ FB”), wherein
Fairmont agreed to assign and transfer its interest in an opti on agreement (the “ Option”)
to acquire 100% of all right, title and interest in the Rome Lithium property (the
“Property”), subject to 2% production royalty in favor of FB of which 1% can be redeemed
by the Corporation for a cash payment of $1,000,000, to the Corporation, and the
Corporation agreed to purchase such Option from Fairmont on the terms and conditions
set forth in the Agreement (the “Acquisition”).
The consideration payable by the Corporation in order to acquire the Option, in addition to
the $2 5,000 already paid pursuant to the right of first refusal agreement between the
Corporation and Fairmont dated June 22, 2017, consists of a payment of $50,000 in cash,
1,500,000 common shares of the Corporation (each a “ Share”) and a 2% net smelter
return royalty of which 1% can be redeemed by the Corporation for a cash payment of
$1,000,000. In addition, the Corporation is required to incur an aggregate of $150,000 in
work expenditure on the Prope rty; on or before June 10, 2019. The Corporation would
have 37,723,112 Shares issued and outstanding after the issuance of the 1,500,000
Shares upon closing of the Acquisition.
The policies of the TSX Venture Exchange (the “ Exchange”) requires that the Acquisition
be approved by the disinterested shareholders of Corporation pursuant to section 5.7(k) of
Exchange Policy 5.3 (“ Policy 5.3 ”) as it is a non -arm's length transaction without
satisfactory evidence of value , and accordingly the 3, 977,080 common share of the
Corporation, beneficially own or controlled by Mr. Michael Dehn, who was president, CEO
and director of the Corporation and Fairmont when the Agreement was entered into ,
representing 11.1% of the issued and outstanding Shares, will be excluded from the
shareholders’ approval resolution.
RESOURCES
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Lastly, further to the Corporation’s August 14, 2017 press release as well as its MD&As for
the period ending June 30, 2017 , September 30, 2017 , December 31, 2017 , and March
31, 2018 disclosing the mineral resource estimate for the adjacent North American Lithium
Mine, the Corporation inadvertently reported the resource estimate using the 0.6% Li2O
cut-off grade where the resource estimate prepared by the QP reports the 0.8% Li2O cut -
off grade as the “preferred” and bolded cut-off grade.
About Jourdan Resources
Jourdan Resou rces Inc. is a Canadian junior mining exploration company trading 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 prope rties 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.