Jourdan Resources Inc.

Jourdan Resources Inc.

April 04, 2006 22:17 ET

Jourdan Resources Inc.: Nomination to the Board of Directors, Final Closing of the Financing and Incentive Stock Option Plan approved.

VAL-D'OR, QUEBEC--(CCNMatthews - April 4, 2006) - Jourdan Resources (NEX:JRN.h) is pleased to announce that Mr. Michel L. Cote has agreed to join the Board of Directors to replace Mr. Pierre Gaudreault.

Mr. Michel L. Cote holds a Bachelor's degree in Economics from the University of Montreal (1971). Mr. Cote has been active in the securities markets ever since. He has held various positions in different companies, including Executive Vice-President of Midland Walwyn Capital Inc. from December 1987 to March 1990, and thereafter as President of Alpha Capital Inc. until September 2001. Mr. Cote is a director of several Junior mining companies listed on the TSX-V, CNQ and NEX.

Mr. Gaudreault will remain active with the company as a consultant and provide assistance to the Company in the evaluation of future projects.

The company closed the second tranche of its private placement for gross proceeds of $64,900, bringing the total gross proceeds raised pursuant to the offering to $449,900. In total, the Company has issued 409 units, each unit being comprised of 10,000 shares at $0.11 per share and 10,000 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 for a period of twelve (12) months from the closing of the offering. The securities issued pursuant to the private placement are subject to a four (4) month hold period from the closing.

Furthermore, the Company has granted 1,200,000 stock options exercisable for a period of three years at a price of $0.15 to officers, consultants and directors of the Company in accordance with the incentive stock option plan approved by the Directors at their last meeting. The options are subject to regulatory and shareholder approval.

The NEX 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.
    Marc Labrecque
    (819) 856-3421
    (819) 825-6316 (FAX)