MISSISSAUGA, ON, June 12, 2018 /CNW/ - 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 Corporation at a
price of $0.06 per Unit; and
8,870,000 common shares (each a "Share") of the
Corporation 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 FT 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
transaction" 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 under 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 closing 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.
About Jourdan Resources
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 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
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.
SOURCE Jourdan Resources Inc.