Jourdan Resources Inc.

Jourdan Resources Inc.

March 30, 2006 22:32 ET

Jourdan Resources Inc.: Closing of a Private Placement and Initial Proceedings for Relisting on the TSX Venture Exchange.

VAL-D'OR, QUEBEC--(CCNMatthews - March 30, 2006) - Jourdan Resources (NEX:JRN.h) is pleased to announce the closing of a private placement for gross proceeds of $385,000. The proceeds of the placement will be used for the reactivation of the Company as well as to continue exploration work undertaken during the winter of 2003 on its 100% owned Guillet Property in Temiscamingue, Quebec.

In total, the Company issued 3,500,000 common shares at a price of $0.11 per share and 3,500,000 common share purchase warrants, each warrant entitling the holder thereof the right to purchase one (1) common share of the Company at a price of $0.15 per share until March 30, 2007. The securities issued pursuant to the offering are subject to a four (4) months hold period from the closing. In connection with the offering, the Company paid finder's fees totalling $35,000.

The Company will proceed with a final closing next week.

Moreover, the Company wishes to announce that it has initiated the reactivation proceedings with the TSX Venture Exchange (The "Exchange") in order for its shares to be transferred from the NEX on the Exchange as a Tier 2 Company.

The NEX neither approved nor disapproved this press release and does not accept responsability for the adequacy or accuracy of this release

Contact Information

  • Jourdan Resources Inc.
    Marc Labrecque
    (819) 856-3421
    (819) 825-6316 (FAX)