Jourdan Closes Final Tranche of Private Placement

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TORONTO, June 01, 2023 (GLOBE NEWSWIRE) -- JOURDAN RESOURCES INC. (TSXV: JOR; FRA: 2JR1) (“Jourdan” or the “Company“) is pleased to announce that it has closed its second and final tranche of a previously announced non-brokered private placement financing of units (each, a “Unit”) at a price of $0.07 per Unit (the “Offering”) for gross proceeds of $631,034.74 (the “Final Tranche”). For more information on the Offering and the first tranche closing (the “First Tranche”), please see the Company’s press releases dated March 17, 2023 and April 21, 2023, respectively, which are available under the Company’s SEDAR profile at www.sedar.com.

Pursuant to the Final Tranche, Jourdan issued 9,014,782 Units at a price of $0.07 per Unit. Each Unit consists of one common share of the Company (each, a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to acquire one additional Common Share at an exercise price of $0.10 until June 1, 2025. The securities issued in connection with the Final Tranche are subject to a statutory four month hold period, which expires on October 2, 2023. Completion of the Offering (including the First Tranche and Final Tranche) is subject to receipt of final approval of the TSX Venture Exchange (“TSXV”). The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes.

In connection with the Final Tranche, Jourdan paid finder’s fees of $3,498.60, $1,120.00, and $4,004.00 in cash and issued 49,980, 16,000, and 57,200 non-transferable finder’s warrants (“Finder’s Warrants”) to Richardson Wealth Ltd., PI Financial Corp., and Canaccord Genuity Corp., respectively, in accordance with TSXV policies. Each Finder’s Warrant entitles the holder thereof to acquire one Common Share at a price of $0.10 at any time prior to June 1, 2025.

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.