NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
TORONTO, July 07, 2021 (GLOBE NEWSWIRE) — Jourdan Sources Inc. (TSX-V: JOR) (“Jourdan” or the “Firm”) is happy to announce that it has closed its non-brokered personal placement flow-through financing for gross proceeds of $720,000 (the “Providing”). For extra details about the Providing, please see the Firm’s press launch dated Could 27, 2021, which is obtainable beneath the Firm’s profile on SEDAR at www.sedar.com.
Pursuant to the Providing, Jourdan issued 14,400,000 models (every, a “Unit”) at a worth of $0.05 per Unit. Every Unit was issued on a “flow-through foundation” and consists of 1 frequent share of the Firm and one-half of 1 frequent share buy warrant (every entire warrant, a “Warrant”). Every Warrant entitles the holder to amass one extra frequent share of the Firm at an train worth of $0.07 till July 7, 2023.
All securities issued in reference to the Providing are topic to a statutory maintain interval expiring on November 8, 2021. Completion of the Providing is topic to receipt of ultimate approval of the TSX Enterprise Change (“TSXV”). Finder’s charges have been paid in accordance with the insurance policies of the TSXV to Roche Securities Restricted consisting of a money fee equal to $36,000 and an issuance of 360,000 finder warrants (“Finder Warrants”) and to Marquest Asset Administration Inc. consisting of an issuance of 360,000 Finder Warrants. Every Finder Warrant entitles the holder thereof to buy one frequent share of the Firm at a worth of $0.07 per share till July 7, 2023. The Firm intends to make use of the online proceeds of the Providing to fund exploration expenditures on its Vallee, Preissac, Lacorne and Baillarge lithium mining properties and for common company functions.
Rene Bharti, chief government officer of Jourdan, commented, “We’re excited to make use of the proceeds from this providing to speed up our deliberate drilling marketing campaign, which is the subsequent step on our path to defining an preliminary mineral useful resource estimate. To that finish, we’ve got been ramping up exploration actions, most not too long ago with a go to by our government chairman, Dr. Andreas Rompel, to our Vallee property in Val d’Or to examine the deliberate drill websites.”
Insiders of the Firm subscribed for Models pursuant to the Providing (the “Insider Participation”). The Insider Participation is taken into account to be a “associated occasion transaction” as outlined beneath Multilateral Instrument 61-101 – Safety of Minority Safety Holders in Particular Transactions (“MI 61-101”). The Insider Participation is exempt from the formal valuation and minority shareholder approval necessities of MI 61-101. The Firm didn’t file a fabric change report greater than 21 days earlier than closing the Providing as the small print of the abovementioned Insider Participation weren’t settled till shortly previous to closing, and the Firm wished to shut the Providing on an expedited foundation.
About Jourdan Sources
Jourdan Sources Inc. is a Canadian junior mining exploration firm buying and selling beneath the image “JOR” on the TSXV and “2JR1” on the Stuttgart Inventory Change. The Firm is concentrated on the acquisition, exploration, manufacturing, and growth of mining properties. The Firm’s properties are in Quebec, Canada, primarily within the spodumene-bearing pegmatites of the La Corne Batholith, round North American Lithium’s producing Quebec Lithium Mine. This mine is a part of Modern Amperex Expertise Co. Restricted (CATL), China’s largest automotive battery producer.
For extra data:
Rene Bharti, Chief Government Officer and President
E mail: firstname.lastname@example.org
Telephone: (416) 861-5800
This press launch accommodates “forward-looking data” throughout the that means of relevant Canadian securities laws. Ahead-looking data consists of, however will not be restricted to, statements with respect to the Providing, together with the Firm’s meant use of web proceeds, and the enterprise, operations and plans of the Firm. Typically, forward-looking data will be recognized by means of forward-looking terminology comparable to “plans”, “expects” or “doesn’t anticipate”, “is anticipated”, “finances”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “doesn’t anticipate”, or “believes”, or variations of such phrases and phrases or statements that sure actions, occasions or outcomes “could”, “may”, “would”, “may” or “will likely be taken”, “happen” or “be achieved”. Ahead-looking data is topic to identified and unknown dangers, uncertainties and different elements which will trigger the precise outcomes, degree of exercise, efficiency or achievements of Jourdan to be materially completely different from these expressed or implied by such forward-looking data, together with however not restricted to: receipt of needed approvals; common enterprise, financial, aggressive, political and social uncertainties; future costs of minerals; accidents, labour disputes and shortages and different dangers of the mining business. Though Jourdan has tried to establish necessary elements that might trigger precise outcomes to vary materially from these contained in forward-looking data, there could also be different elements that trigger outcomes to not be as anticipated, estimated or meant. There will be no assurance that such data will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such statements. Accordingly, readers shouldn’t place undue reliance on forward-looking data. Jourdan doesn’t undertake to replace any forward-looking data, besides in accordance with relevant securities legal guidelines.
This information launch doesn’t represent a suggestion to promote or a solicitation of a suggestion to purchase any of the securities in the USA. The securities haven’t been and won’t be registered beneath the USA Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities legal guidelines and is probably not supplied or offered inside the USA or to U.S. Individuals until registered beneath the U.S. Securities Act and relevant state securities legal guidelines or an exemption from such registration is obtainable.
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.