Jourdan Resources Inc.
TSX VENTURE : JOR

Jourdan Resources Inc.

December 03, 2010 08:38 ET

Jourdan Resources Inc. Announces $1.7 Million Private Placement Financing

MONTREAL, CANADA--(Marketwire - Dec. 3, 2010) - Jourdan Resources Inc. (TSX VENTURE:JOR) ("Jourdan" or the "Company") (please visit the Company's website at www.jourdan.ca) is pleased to announce that it has entered into an agreement with Industrial Alliance Securities Corporation (the "Agent"), for a private placement financing of units ("Units") at a price of $0.15 per Unit and flow-through shares ("FT Shares") at a price of $0.20 per FT Share for aggregate gross proceeds of up to $1,700,000 (the "Offering").

The Offering is being made by the Agent on a commercially reasonable efforts basis and is expected to close later this month. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals. All securities to be issued under the Offering will be subject to four-month statutory hold period in Canada.

Each Unit consists of one common share and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to acquire a further common share of the Company at a price of $0.20 per share for a period of 18 months following the closing date.

At the closing of the Offering, the Agent shall receive a commission paid in cash equal to 8.5% of the gross proceeds raised under the Offering. In addition, the Agent shall receive non transferable warrants exercisable for a period of eighteen (18) months from the date of closing to acquire such number of common shares of the Company as is equal to 6% of the aggregate number of Flow-Through Shares and Units issued under the Offering.

The net proceeds from the Unit offering will be used for general working capital purposes. The gross proceeds from the FT Shares will be used for exploration and development of the Company's Quebec properties. The Corporation's expenditures will qualify as "Canadian exploration expenses" and flow-through mining expenditures (as defined in the Income Tax Act (Canada) which can be renounced to purchasers for the 2010 taxation year.

About Jourdan

Jourdan Resources Inc. is a Canadian junior mining exploration company trading under the symbol JOR on the TSX Venture Exchange. The Company is focused on the acquisition, exploration, production, development and if, as the case may be, the operation of mining properties in strategic Uranium and Rare Metals or High Technology Metals ("HTM's") sectors of eastern Canada. The Company's properties are currently at the exploration stage along the Lower North Shore, the Mauricie and now the James Bay regions of Quebec.

"Neither 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."

Contact Information

  • Jourdan Resources Inc.
    Emilien Seguin
    President and CEO, Director
    450-670-5224
    514-787-1457 (FAX)
    or
    Jourdan Resources Inc.
    Guy Girard
    VP Finance and Director
    514-798-1290
    514-787-1457 (FAX)
    info.jourdan.ca