FSC / Press Release
Jourdan Announces Brokered Financing with Mackie Research Capital
* Financing to consist of a minimum issue size of 35,000 flow-through units, to
a maximum of 150,000 flow-through units, at a price of $10 per flow-through
* Flow Through Units are 80% flow-through, 20% non flow-through dollars
* Proceeds to be used to advance the Jourdan's Quebec Phosphate Properties and
general working purposes
Toronto CANADA, November 26, 2013 /FSC/ - Jourdan Resources Inc. (JOR - TSX
Venture), ("JOURDAN" or the "Company") (www.jourdan.ca) is pleased to announce
that it has entered into an agreement with Mackie Research Capital Corporation
("MRCC" or the "Agent") for a brokered private placement offering of up to
150,000 flow-through units (the "FT Units").
Each FT Unit shall consist of 160 Flow-Through common shares and 40 common
shares (80%-20%) of the share capital of the Company, and Two Hundred (200)
common share purchase warrants (each being a "Warrant").
Each Warrant entitles its holder thereof to purchase one additional common share
at a price of $0.10 for a period of 30 months from the Closing Date.
If, at any time after the Hold Period, the common shares close for ten
consecutive trading days at a volume weighted average trading price above $0.25,
the Corporation will have the right to require conversion of the Warrants (the
"Acceleration Right") at the exercise price by providing a notice (the
"Conversion Notice") to the warrant holders. Upon issuance of the Conversion
Notice the holder must exercise the warrants then held in accordance with their
terms within 30 days of receipt of such notification (the "Conversion
Deadline"), after which Conversion Deadline any unexercised warrants will be
deemed to have expired.
The Agent may increase the number of FT Units by 15% at any time on or prior to
the Closing Date.
The Agent will receive a cash commission of 9% of the gross proceeds of the
Offering, as well as Agent's Warrants, equal to 9% of the aggregate number of
shares sold under the offering (the "Agent's Warrants") exercisable at a price
of $0.10 per Agent Warrant for a period of 30 months from the Closing Date.
Closing is expected on or about December 19, 2013.
MRCC shall be the exclusive lead manager and sole book runner of the Offering.
MRCC shall also be entitled to appoint a selling group subject to the prior
approval of Jourdan.
The proceeds of the private placement will be used for continuing exploration
programs on the Company's mineral properties in Quebec and for general working
capital purposes. The private placement is subject to TSX Venture Exchange
Jourdan continues to target and consolidate low risk and high potential value
phosphate properties along the north shore of the St. Lawrence River near Baie
Comeau, Quebec. The results reported by Arianne for its Lac A Paul Feasibility
Study, as well The Mine Arnaud partnership owned by Investissement Quebec (a
Crown corporation), and Yara International ASA (a Norwegian company),
demonstrate that large economic phosphate deposits in the region where Jourdan
operates are not unique. In the map below, the location of the Mine Arnaud
partnership as well as the Lac A Paul Property are displayed relative to the
location of communities along the St. Lawrence River in Quebec and Jourdan's
Quebec phosphate projects.
About Jourdan Resources
Jourdan Resources Inc. is a Canadian junior mining exploration company focused
on phosphate. We continually strive to maximize shareholder value by targeting
the highest quality phosphate projects with a professional and highly
experienced management team. Our approach combines creativity, experience, and
technical expertise with tenacity and determination to advance existing projects
while always being prepared to take advantage of new opportunities that can add
value for our shareholders. We are committed to conducting ourselves in an open,
professional, and responsible manner, while always remaining available to all
shareholders. Our goal is to become the dominant phosphate miner in North
Please visit the Company's website at www.jourdan.ca
For further information please contact:
President and CEO, Jourdan Resources Inc.
Tel: (647) 477-2382
Fax: (647) 477-2389
Glen Wylie, CMA
CFO, Jourdan Resources Inc.
Tel: (647) 477-3758
Fax: (647) 477-2389
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including any information as
to our strategy, projects, plans or future financial or operating performance
and other statements that express management's expectations or estimates of
future performance, may constitute forward-looking information (collectively
"forward-looking information") within the meaning of Canadian securities laws.
Forward-looking information may be identified by terminology such as "may",
"will", "could", "should", "expect", "plan", "anticipate", "believe", "intend",
"estimate", "projects", "predict", "potential", "continue" or other similar
expressions concerning matters that are not historical facts and include, but
are not limited to, resource estimates, capital and operating expenditures,
economic conditions, availability of sufficient financing, receipt of approvals,
satisfaction of closing conditions and any and all other timing, development,
operational, financial, economic, legal, regulatory and/or political factors
that may influence future events or conditions. Such forward-looking statements
are based on a number of material factors and assumptions, including, but not
limited to, access to capital markets and other sources of financing and
associated cost of funds, final receipt of any required approvals, sufficient
working capital for development and operations, access to adequate services and
supplies, availability of markets for products, commodity prices, foreign
currency exchange rates, interest rates, availability of a qualified work force,
availability of manufacturing equipment, no material changes to the tax and
regulatory regime, the ultimate ability to execute business plans on
economically favourable terms and those material factors and assumptions
disclosed in other public filings of Jourdan Resources.
While we consider these assumptions to be reasonable based on information
currently available to us, they may prove to be incorrect. Actual results may
vary from such forward-looking information for a variety of reasons, including
but not limited to, risks and uncertainties disclosed in other public Jourdan
Resources filings, changes in general economic, market and business conditions,
competition for, among other things, capital and skilled personnel, and other
unforeseen events or circumstances, that may cause the actual financial results,
performance or achievements of the Company to be materially different from
estimated future results, performance or achievements expressed or implied by
the forward-looking statements. Copies of the Company's public filings under
applicable Canadian securities laws are available at www.sedar.com. The Company
further cautions that information contained on, or accessible through, this
website is current only as of the date of filing such information and may be
superseded by subsequent events or filings. Other than as required by law,
Jourdan Resources does not intend, and undertakes no obligation, to update any
forward looking information to reflect, among other things, new information or
Although the Company believes many of its properties have promising potential,
its properties are in the early stages of exploration. None have yet been shown
to contain proven or probable mineral reserves. There can be no assurance that
such reserves will be identified on any property, or that, if identified, any
mineralization may be economically extracted.
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. Statements in this
release that are not historic facts are "forward-looking statements" and readers
are cautioned that any such statements are not guarantees of future performance,
and that actual developments or results, may vary materially from those in these
To view the press release as a PDF file, please click on the following link:
Source: Jourdan Resources Inc. (TSXV: JOR) http://www.jourdan.ca
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-0- Nov/26/2013 21:33 GMT
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