Jourdan Resources Inc.
TSX VENTURE : JRN

Jourdan Resources Inc.

December 18, 2007 07:45 ET

Jourdan Closes a $400,120 Private Placement With Northen Precious Metals 2007 L.P.

VAL D'OR, QUEBEC--(Marketwire - Dec. 18, 2007) - Jourdan Resources (TSX VENTURE:JRN) (the "Corporation") is pleased to announce the closing of a private placement with Northern Precious Metals for gross proceeds of $400,120. In total, the Corporation issued 2,858,000 units (the "Units") at a price of $0.14 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; 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.

The securities issued pursuant to the offering are subject to a 4 month hold period expiring on April 14, 2008. In connection with the offering, the Corporation paid to Northern Precious Metals Management Inc. due diligence fees totaling $21,907.

In other news the Corporation has the intention to proceed with a non brokered private placement for maximum proceeds of $500,000, in which three directors and officers of the Corporation will participate approximatively for total proceeds of $90 000. The proceeds of the offering will be used for working capital. The offering will be at a price of $0.10 per unit with each unit consisting of one common share and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share of the Corporation on the same terms and conditions as the warrants issued to Northern Precious Metals.

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.
    Emilien Seguin
    President
    450-670-5224
    emile.seguin@sympatico.ca
    or
    Jourdan Resources Inc.
    Guy Girard
    Chief Financial Officer
    514-798-1290