Jourdan Resources Inc. (TSXV: JOR; OTCQB: JORFF) (" Jourdan " or the " Company ") is pleased to announce that today it made the final payment pursuant to an option agreement made effective March 1, 2021 (the " Agreement ") in connection with its previously announced acquisition of the La Corne lithium property (" LaCorne "). For more information about LaCorne and the option please see the Company's press releases dated March 1, 2021 and March 25, 2021, which are available on the Company's SEDAR profile at www.sedar.com.
In accordance with the Agreement, Jourdan elected to make the final payment of C$100,000 by way of the issuance of an aggregate of 1,111,111 common shares of the Company (the " Final Payment Shares "). The number of Final Payment Shares was calculated based on a deemed price per share of $0.09, being the Discounted Market Price (as such term is defined in the policies of the TSX Venture Exchange) of Jourdan's common shares on the day the Company announced that it had exercised the option to acquire LaCorne. To date, the Company has issued an aggregate of 2,611,111 of its common shares to the vendors of LaCorne as consideration for the acquisition.
The Final Payment Shares are subject to a statutory four month and one day hold period, expiring on June 19, 2022.
Jourdan Resources Inc. is a Canadian junior mining exploration company trading under the symbol "JOR" on the TSX Venture Exchange 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.
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