Ressources Jourdan inc.
TSX VENTURE : JRN

Ressources Jourdan inc.

August 24, 2007 11:22 ET

Jourdan Closes a $1,000,000 Private Placement With Mineralfields

VAL-D'OR, QUEBEC--(Marketwire - Aug. 24, 2007) - Jourdan Resources (the "Corporation")(TSX VENTURE:JRN) is pleased to announce the closing of a private placement with the MineralFields Group for gross proceeds of $1,000,000. In total, the Corporation issued 5,555,553 units (the "Units") at a price of $0.18 per Unit, with each Unit consisting of one flow-through common share and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share of the Corporation for a period of twenty-four months at an exercise price of $0.20 per share at any time on or before the date that is 6 months from the closing, and thereafter at an exercise price of $0.30 per share during the second period of 6 months; thereafter at an exercise price of $0.40 per share during the third 6 month period; and finally at a price of $0.50 per share during the remaining 6 month period.

Limited Market Dealer Inc. received a cash finder's fee of 3% of the gross proceeds, 111,111 common shares of the Corporation and non-transferable finder's fees warrants equal to 10% of the number of Units issued by the Corporation, each finder's fee warrant entitles the holder thereof to purchase one Unit of the Corporation for a period of twenty-four months from the closing.

"We are very pleased to be entering into this relationship with MineralFields Group", said Guy Girard, Chief Financial Officer. "This is an important milestone in the growth of the Corporation's and we look forward to working with MineralFields Group as we develop our holdings in the province of Quebec."

There are five subscribers to the private placement including four of the MineralFields Limited Partnerships of Toronto and one individual investor. The securities issued pursuant to the offering are subject to a 4 month hold period expiring on December 22, 2007.

About MineralFields, Pathway and First Canadian Securities ®

MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities®, a division of Limited Market Dealer Inc., is active in leading resource financings (both flow-through and hard dollar)on competitive, effective and service-friendly terms, with investors both within, and outside of MineralFields Group.

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

  • Jourdan Resources Inc.
    Guy Girard
    CFO and Director
    514-798-1290