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Jourdan Provides Update on $750,000 Private Placement

Jourdan Resources Inc.
·3 mins read

TORONTO, Sept. 23, 2020 (GLOBE NEWSWIRE) -- Jourdan Resources Inc. (TSX-V: JOR) (“Jourdan” or the “Company”) is pleased to provide additional information respecting its previously announced non-brokered private placement financing of 50,000,000 units at a price of $0.015 per unit for gross proceeds of $750,000 (the “Offering”).

The Company intends to use the net proceeds of the Offering for general corporate purposes, including overhead expenses, exploration work on its mining properties located in Quebec, Canada, including treating bulk samples, field geological mapping, geophysical surveys and various other site expenses, and paying certain amounts owing to retain its mining concessions. None of the proceeds will be used for management fees or investor relations.

Completion of the Offering is subject to receipt of final approval of the TSX Venture Exchange (“TSXV”). For more information about the Offering, please see the Company’s press releases dated August 10, 2020 and September 21, 2020, which are available under the Company’s profile on SEDAR at www.sedar.com.

About Jourdan Resources

Jourdan Resources Inc. is a Canadian junior mining exploration company trading under the symbol JOR on the TSX-V 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 producing Quebec Lithium Mine. This mine is part of Contemporary Amperex Technology Co. Limited (CATL), China’s largest automotive battery manufacturer.

For more information:

Aaron Atin
Corporate Secretary
(416) 861-5888
aaron.atin@fmresources.ca

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 Offering, including the Company’s intended use of proceeds, receipt of final approval of the TSXV and other matters relating 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 prices of mineral prices; 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.

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.