Jade Leader Closes First Tranche of Financing

Rhea-AI Summary

Jade Leader Corp. has successfully closed the first tranche of a private placement, raising $206,000 through the issuance of 4,120,000 Units at a price of $0.05 per Unit. Each Unit comprises one common share and half a common share purchase warrant, with a full warrant allowing the purchase of an additional share at $0.10 until April 4, 2025. The offering targeted accredited investors and is subject to a four-month hold period. Proceeds will be allocated for working capital, corporate purposes, and jade exploration & marketing. A second tranche is anticipated to close within 10 days.

Positive

• Successfully raised $206,000 through private placement.
• Each warrant allows purchase of shares at $0.10 until April 4, 2025.
• Proceeds earmarked for exploration and marketing activities.

Negative

• None.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

CALGARY, AB / ACCESSWIRE / April 4, 2023 / Jade Leader Corp. (TSX.V:JADE) ("Jade Leader" or "the Company") has closed the first tranche of its private placement for a total of 4,120,000 Units at a price of $0.05 per Unit to raise gross proceeds of $206,000. Each unit consisted of one common share and a half of a common share purchase warrant. Each full common share purchase warrant (a "Warrant") entitles the holder to purchase an additional common share at a price of $0.10 per share until April 4, 2025.

The Units were offered on a non-brokered basis by way of private placement to accredited investors. All securities issued under the offering have a hold period of four months plus one day or until August 5, 2023. A finder's fee of 5% was paid to eligible agents upon closing or $1,000.

The second and final tranche of the private placement is expected to close in the next 10 days and all securities issued in connection with this tranche of the Offering will be subject to a four month hold period from the date of closing.

Proceeds of the financing are to be used for working capital, general corporate purposes as well as additional Jade exploration and Jade marketing activities.

On Behalf of the Board of Directors,

"Jean-Pierre Jutras"
Jean-Pierre Jutras, President/Director

For Further Information Contact:

info@jadeleader.ca
Jade Shop: www.jadeleader.shop
Instagram: @jadeleadercorp
Youtube Channel: Jade Leader Corp.
www.jadeleader.ca
or
Jean Pierre Jutras, President at 1.403.233.0464

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.

Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of Jade Leader's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Jade Leader. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Jade Leader's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Jade Leader's filings with the Canadian securities authorities. Accordingly, holders of Jade Leader shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Jade Leader disclaims any responsibility to update these forward-looking statements.

SOURCE: Jade Leader Corp.

View source version on accesswire.com:
https://www.accesswire.com/747582/Jade-Leader-Closes-First-Tranche-of-Financing

FAQ

What did Jade Leader Corp. achieve in its latest financing news on April 4, 2023?

Jade Leader Corp. closed the first tranche of a private placement, raising $206,000 by issuing 4,120,000 Units.

What is the price and terms of the warrants issued by Jade Leader Corp?

Each full common share purchase warrant allows the holder to purchase an additional common share at $0.10 until April 4, 2025.

Who were the investors in Jade Leader Corp's private placement?

The private placement was offered on a non-brokered basis to accredited investors.

What will the proceeds from Jade Leader Corp's financing be used for?

The proceeds will be used for working capital, general corporate purposes, and jade exploration and marketing activities.

When is the second tranche of Jade Leader Corp's private placement expected to close?

The second tranche of the private placement is expected to close within the next 10 days.