Jade Leader Closes Final Tranche of Financing
CALGARY, October 23, 2018 - Jade Leader Corp. (TSX-V: JADE) ("Jade Leader" or "the Company") is pleased to announce that it has closed the final tranche of its previously announced non-brokered private placement (the "Offering") and has issued a total of 4,595,816 Units pursuant to this private placement for gross proceeds of $1,148,954.
The final tranche consisted of 730,000 Units at a price of $0.25 per Unit for gross proceeds of $182,500. Each unit consisted of one common share and one common share purchase warrant. Each common share purchase warrant (a "Warrant") entitles the holder to purchase one additional common share at a price of $0.40 per share until October 23, 2020. The common shares issued pursuant to this private placement are subject to a hold period until February 24, 2019. Insiders of the Company purchased a total of 40,000 Units. In connection with this tranche of the Offering, Jade Leader has agreed to pay finder’s fees of $1,250.
The net proceeds from the Offering will be used for working capital, general corporate purposes and property exploration expenditures.
On Behalf of the Board of Directors,
"Jean-Pierre Jutras"
Jean-Pierre Jutras
President/Director
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.
Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of Jade Leader’s internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Jade Leader. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Jade Leader’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Jade Leader’s filings with the Canadian securities authorities. Accordingly, holders of Jade Leader shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Jade Leader disclaims any responsibility to update these forward-looking statements.
SOURCE: Jade Leader Corp.