Jourdan Resources Inc.
TSX VENTURE : JRN

Jourdan Resources Inc.

October 22, 2009 17:04 ET

Jourdan Resources: Closing of a $682,775 Private Placement

MONTREAL, CANADA--(Marketwire - Oct. 22, 2009) - Jourdan Resources (the "Corporation") (TSX VENTURE:JRN) (please visit the Company's website at www.jourdan.ca) is pleased to announce the closing of a non-brokered private placement for gross proceeds of $ 682,775 in which three directors and officers of the Corporation participated for total proceeds of $22,100. The proceeds from the private placement will be used for the diamond drilling program on the Company's Baie Johann-Beetz Uranium Property, and for general working capital.

In total, the Corporation issue 9,952,857 non flow through common shares at a price of $0.035 per share and 4,976,429 common share purchase warrants. Each warrant entitles the holder thereof to purchase one common share of the Corporation for a period of twelve months from the date of the closing at an exercise price of $0.06 per share.

Moreover, the Corporation also issued 7,431,667 flow through common shares at a price of $0.045 per share and 3,715,833 common share purchase warrants. Each warrant entitles the holder thereof to purchase one common share of the Corporation for a period of twelve months from the date of the closing at a price of $0.10 and thereafter at an exercise price of $0.12 per share during the second period of 12 months. The MineralFields Group participated to this non-brokered private placement for a total amount of $300,000 through the sale of 6,666,666 flow-through units at $0.045 each.

In connection with the offering, the Corporation paid finder's fees totaling $43,217.50 and also issued 666,666 common share purchase warrants at an exercise price of $0.05 per share for the first twelve months and thereafter at a price of $0.10 per share during the second period of the 12 months.

The securities issued pursuant to the offering are subject to a four (4) month hold period expiring on February21, 2010.

The TSX Venture Exchange neither approved nor disapproved this press release and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information