Jourdan Increases Option Percentage in Preissac-Lacorne Lithium Portfolio
June 03 2020 - 6:00PM
Jourdan Resources Inc. (TSX-V: JOR) (“Jourdan” or the “Company”) is
pleased to announce that, pursuant to an amending agreement (the
“
Amending Agreement”) entered
into with Infinite Ore Corp. (“
Infinite”;
TSX-V: ILI; formerly Alix Resources Corp.) in connection with an
option agreement, it has increased its percentage interest of an
option (the “
Infinite Option”) it
holds in Infinite’s 145 claim Preissac-Lacorne lithium portfolio
(the “
Portfolio”) from 75% to 100%. For more
information about the Infinite Option, please see the Company’s
press releases dated May 9, 2017 and May 16, 2017, which are
available under the Company’s SEDAR profile at www.sedar.com.
In consideration for the increased percentage in
the Portfolio, the parties agreed to adjust the consideration
payable by the Corporation to exercise the Infinite Option to: (i)
the $50,000 already paid to Infinite, as announced on May 16, 2017,
(ii) the 600,000 common shares of the Corporation already issued to
Infinite, as announced on May 16, 2017, and, (iii) the issuance to
Infinite of an additional 8,100,000 common shares of the
Corporation (the “Consideration
Shares”).
The Consideration Shares issuable in connection
with the Infinite Option will be subject to the approval of the TSX
Venture Exchange (“TSXV”) and will be subject to a
statutory four month and one day hold period.
About Jourdan Resources
Jourdan Resources Inc. is a Canadian junior
mining exploration company trading under the symbol JOR on the
TSX-V and 2JR1 on the Stuttgart Stock Exchange. The Company is
focused on the acquisition, exploration, production, and
development of mining properties. The Company’s properties are in
Quebec, Canada, primarily in the spodumene-bearing pegmatites of
the La Corne Batholith, around North American Lithium’s producing
Quebec Lithium Mine. This mine is part of Contemporary Amperex
Technology Co. Limited (CATL), China’s largest automotive battery
manufacturer.
For more information:
Aaron Atin Corporate Secretary aaron.atin@fmresources.ca
Cautionary statements
This news release contains certain
forward-looking statements, including statements regarding the
Corporation’s exercise of the Infinite Option and the TSXV’s
approval of the issuance of the Consideration Shares. These
statements are subject to a number of risks and uncertainties.
Actual results may differ materially from results contemplated by
the forward-looking statements. Although Jourdan has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward looking information. Jourdan does not undertake
to update any forward-looking information, except in accordance
with applicable securities laws.
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.
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