JOURDAN RESOURCES INC. (“Jourdan” or the “Company“) is pleased to announce that it has acquired an additional 138 mining claims adjacent to its other lithium mining properties located north of Val d’Or, Quebec (the “Claims”). See Figure 1.
The Claims were acquired by the Company pursuant to a purchase and sale agreement among the vendors of the Claims and Jourdan. As consideration for the acquisition, Jourdan paid an aggregate cash payment of $50,000 and granted to the vendors net smelter return royalties affecting the claims transferred by such vendors ranging from 0.25% to 0.5%, payable up to a maximum of $1 million in the aggregate.
The acquisition is an arm’s length transaction for the purposes of the policies of the TSX Venture Exchange (“TSXV”) and qualifies as an “Exempt Transaction” under TSXV Policy 5.3. Jourdan is not paying any finder’s fees in connection with the acquisition.
Rene Bharti, chief executive officer of Jourdan, stated, “We are very pleased to announce this strategic acquisition of the additional claims, which borders our current land position. We anticipate that pegmatite showings with spodumene (lithium-bearing pyroxene) occurrences that we identified on our current properties extend into these newly acquired areas.”
“We are very pleased to have added a complementary land package to the east of our flagship Vallée project,” said Dr. Andy Rompel, Jourdan’s executive chairman. “The strike of our known pegmatite swarm aims towards these newly acquired claims and we are very enthusiastic to explore these in the new year.”