Jourdan Closes Second Tranche of Flow-Through Private Placement Financing

Rhea-AI Summary

Jourdan Resources has closed the second tranche of its non-brokered private placement financing, raising $200,000. The company issued 2,500,000 Flow-Through Shares at a price of $0.08 per share. The funds will be used for exploration expenses on its Baillarge lithium mining property.

Positive

• Jourdan Resources has successfully closed the second tranche of its private placement financing, raising $200,000 for exploration expenses on its Baillarge lithium mining property.

Negative

• None.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TORONTO, June 26, 2023 (GLOBE NEWSWIRE) --  JOURDAN RESOURCES INC. (TSXV: JOR; FRA: 2JR1) (“Jourdan” or the “Company“) is pleased to announce that it has closed its second tranche of a previously announced non-brokered private placement financing of common shares of the Company issued on a flow-through basis (each, a “Flow-Through Share”) at a price of $0.08 per Flow-Through Share (the “Offering”) for gross proceeds of $200,000 (the “Second Tranche”). For more information about the Offering and the first tranche closing (the “First Tranche”), please see the Company’s press release dated March 24, 2023 and June 12, 2023, respectively, which are available under the Company’s profile on SEDAR at www.sedar.com.

Pursuant to the Second Tranche, Jourdan issued 2,500,000 Flow-Through Shares at a price of $0.08 per share, each of which are subject to a statutory four month hold period, which expires on October 27, 2023. Completion of the Offering (including the First Tranche and Second Tranche) is subject to receipt of final approval of the TSX Venture Exchange (“TSXV”).

In connection with the Second Tranche, Jourdan paid finder’s fees of $16,000 in cash and issued 200,000 non-transferable finder’s warrants (“Finder’s Warrants”) to Roche Securities Limited in accordance with TSXV policies. Each Finder’s Warrant entitles the holder thereof to acquire one common share of the Company at a price of $0.08 at any time prior to June 26, 2025. The Company intends to use the proceeds of the Offering to fund exploration expenses on its Baillarge lithium mining property.

About Jourdan Resources Inc.
Jourdan Resources 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 properties. The Company’s properties are in Quebec, Canada, primarily in the spodumene-bearing pegmatites of the La Corne Batholith, around North American Lithium’s Quebec Lithium Mine.

For more information:
Rene Bharti, Chief Executive Officer and President
Email: info@jourdaninc.com
Phone: (416) 861-5800
www.jourdaninc.com

Cautionary statements

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the First Tranche, Second Tranche and the Offering, including the Company’s intended use of net proceeds, receipt of final approval of the TSXV, and other matters related thereto. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”.  Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Jourdan to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future mineral prices and market demand; accidents, labour disputes and shortages and other risks of the mining industry. Although Jourdan has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Jourdan does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

NEITHER 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.

FAQ

What is the purpose of the funds raised in the private placement financing?

The funds raised in the private placement financing will be used for exploration expenses on Jourdan Resources' Baillarge lithium mining property.