Jourdan Exercises Option to Acquire Lithium Property

Jourdan Resources Inc. (TSXV: JOR) (" Jourdan " or the " Company ") is pleased to announce that on March 24, 2021, it exercised an option (the " Option ") to acquire a property known as the La Corne lithium property (" LaCorne "), which is adjacent to Jourdan's other lithium mining properties located north of Val d'Or, Quebec. Please see the Company's press release dated March 1, 2021, for more information about the Option, which is available on the Company's SEDAR profile at www.sedar.com.

Pursuant to the option agreement effective March 1, 2021, Jourdan issued 1.5 million common shares of Jourdan (" Common Shares ") to the vendors of LaCorne. On March 1, 2022, Jourdan is required to make a final payment of C$100,000 in cash or, at Jourdan's sole option, in Common Shares based on the greater of (A) $0.10 and (B) the 5-day volume weighted average price of the Common Shares on the TSX Venture Exchange (" TSXV ") for the period immediately prior to the date of issuance. A duly executed claim transfer form respecting the transfer to the Company of the claims comprising LaCorne is being held in escrow pending completion of the Company's final payment.

The 1.5 million Common Shares issued as consideration for exercising the Option are subject to a statutory four month and one day hold period, expiring on July 25, 2021. The Company's exercise of the Option is an arm's length transaction for the purposes of the policies of the TSXV and qualifies as an "Expedited Acquisition" under TSXV Policy 5.3. Jourdan is not paying any finder's fees in connection with the Option.

About Jourdan

Jourdan is a Canadian junior mining exploration company trading under the symbol "JOR" on the TSXV 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:

www.jourdaninc.com
Rene Bharti, Chief Executive Officer and President
Email: ir@jourdanresources.com
Phone: (416) 861-1685

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.


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

The Conversation (0)
  Metals Australia Ltd

Warrego East Drilling Permitted as Takeover Action Underlines Prospectivity of Tennant Creek Mineral Field

- Metals Australia exploring the Warrego East Copper-Gold project as London-listed Pan African Resources acquires holder of adjacent tenement in an $82M deal

Metals Australia Ltd (ASX: MLS) (“the Company”) is pleased to announce that its Mine Management Plan for the upcoming field exploration program at the Warrego East copper-gold project in the Tennant Creek Mineral Field has been authorised by the Northern Territory Government (Refer to Figure 1 and 2). Weather permitting, the field exploration program will be scheduled as soon as a land holder access agreement is finalised.

Keep reading...Show less
A green battery surrounded by rings.

Livium Secures Funding for Battery Recycling Facility

Livium (ASX:LIT) subsidiary Envirostream Australia has been granted AU$850,000 under Western Australia’s electronic waste infrastructure grant funding program.

Previously known as Lithium Australia, Livium is Australia's “first onshore company” for lithium and mixed battery recycling.

Since its inception in 2017, the company has been developing safe and innovative management solutions to address lithium-ion battery recycling, one of Australia’s biggest problems concerning waste.

“This grant from the WA government represents a meaningful step forward in our mission to establish a sustainable national battery recycling ecosystem,” Livium CEO and Managing Director Simon Linge commented in the release.

Keep reading...Show less
Lithium Universe

Successful Completion of Tranche 1 Share Placement

Lithium Universe Limited (referred to as "Lithium Universe" or the "Company," ASX: "LU7”) is pleased to announce that further to its announcement dated 31 October 2024 (ASX:LU7 LU7 Completes Share Placement and Launches Entitlement Offer) (Announcement), it has now settled the first tranche of its share placement to sophisticated and professional investors (Tranche 1).

Keep reading...Show less
Red Tesla electric vehicle with lithium-ion battery icon in corner.

Where Does Tesla Get its Lithium? (Updated 2024)

As the energy transition continues to unfold, US electric vehicle (EV) pioneer Tesla (NASDAQ:TSLA) has been making moves to secure supply of the raw materials it needs to meet its production targets.

Lithium in particular has been top of mind for CEO Elon Musk. Back in 2020, the battery metal had a spotlight moment at Tesla’s Battery Day, when Musk shared that the company had bought tenements in the US state of Nevada, and was looking for a new way to produce lithium from clay — a process yet to be proven at commercial scale.

Lithium prices went on to hit all-time highs, but swiftly declined last year and continuing on a downward trend in 2024. Prices for other key battery metals have also decreased as EV sales growth has fallen across most global markets in the face of economic uncertainty and higher interest rates. According to Goldman Sachs research, EV battery costs are at record lows and are forecasted to fall by 40 percent between 2023 and 2025.

Keep reading...Show less

Latest Press Releases

Related News

×