Shares of Jourdan Resources Inc. (OTCMKTS:JORFF) jumped on Friday, extending its monthly gains to 26%.
Market Reaction
On Friday , JORFF stock moved up 4.70% to $0.0379 with 100 shares, compared to its average volume of 70K shares. The stock has moved within a range of $0.0379 – 0.0379 after opening trade at $0.0379.
Jourdan Closes Private Placement, While Stan Bharti Acquires Securities in the Company
Jourdan Resources Inc. (OTCMKTS:JORFF) announced on December 31, 2021, about closing its non-brokered private placement flow-through financing for gross proceeds of $1,350,000 (the offering). The company has also issued 27,000,000 units at price of $0.05 per Unit, pursuant to the offering.
Each Unit has been issued “flow-through basis”. It contains one common share of the company, and -half of one common share purchase warrant. Each warrant enables the holder to acquire one additional common share of the company. This common share has an exercise price of $0.08 until December 31, 2023.
As of now, all securities issued in connection with the offering are on statutory hold, which expire on May 1, 2022. Of course, the TSX Venture Exchange needs to grant final approval for completion of the offering. Net proceeds are to be diverted towards funding exploration expenditures on its Vallee, Pressiac, Lacorne and Baillarge lithium mining properties and for general corporate purposes.
In other news, Stan Bharti acquired an aggregate of 20,000,000 units of Jourdan Resources, for investment purposes, after its flow-through private placement financing at $0.05 per Unit for an aggregate cost of $1,000,000. Prior to the acquisition of the securities, Mr. Bharti wasn’t in possession of any Common Shares. Now he owns 20,000,000 Common Shares and 10,000,000 Warrants.
