Juggernaut Exploration Ltd. Announces Investment by Strategic Institutions and HNWI
Vancouver, August 11th 2023 - Juggernaut Exploration Ltd. (TSX-V:JUGR) (OTC:JUGRF) (FSE:4JE) (the "Company" or "Juggernaut") is pleased to announce it has filed documents seeking conditional approval of a non-brokered hard dollar private placement of up to $1.0 million dollars. Juggernaut's projects continue to garner strong interest and support from leading institutions, high net-worth individuals and miners alike, confirming the quality of its three fully permitted, 100% controlled projects located in world class geologic terrane of Northwestern British Columbia and the Golden Triangle. View Juggernaut videos by Clicking Here.
The hard dollar financing will consist of up to 8,000,000 units ("Units"), priced at $0.125 each for gross proceeds of up to $1,000,000. Each Unit will consist of one common share plus one share purchase warrant ("Warrant") with each Warrant exercisable to purchase one common share of the Company at $0.20 for a twenty-four month period from the date of issuance. If at any time after the date of issuance, the Company's common shares have a closing price equal to or higher than $1.00 per share for ten (10) consecutive trading days on the TSXV Exchange ("Exchange"), the Company shall thereafter be entitled to give notice to the holders of the Warrants by news release that such Warrants will expire at 4:30 P.M. (Toronto time) on that date which is 30 days after the date of such news release unless exercised before the expiry of that period.
Directors and officers of the company may acquire securities under the private placement, which participation would be considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). Such participation is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101. The funds from this financing can be used for exploration and/or general working capital.
The Company may pay finder's fees equal to 6% of the gross proceeds from a portion of the financing in cash, and 6% finder's B-warrants equal to the number of units sold. Completion of the private placement and the payment of the finders' fees are subject to acceptance by the Exchange. All shares issued pursuant to the financing (including shares issued to finders) and any shares issued pursuant to the exercise of warrants will be subject to a four-month hold period from the issuance date.
Mr. Dan Stuart, Director, President, and CEO of Juggernaut states:
This strategic investment from globally recognized Institutions and ongoing support from senior miners, is a strong endorsement that clearly demonstrates the significant near-term discovery potential of our 100% controlled properties. Post financing, Juggernaut will have a tight capital structure of slightly in excess of ~70 million shares, no debt, and a strong cash position of ~ $4,000,000. As such, we are well positioned to move forward with our expanded plans of drilling Midas, Empire and Bingo totaling approximately ~6,500 meters. With much anticipation, we look forward to executing the inaugural drill and exploration programs and reporting results."
About Juggernaut Exploration Ltd.
Juggernaut Exploration Ltd. is a precious metals and critical element project generator in the geopolitically stable jurisdiction of Canada, focused on the prolific geologic setting of northwestern British Columbia encompassing the Golden Triangle.
For more information, please contact
Dan Stuart
President, Director, and Chief Executive Officer
604-559-8028
info@juggernautexploration.com
www.juggernautexploration.com
NEITHER THE 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.
FORWARD LOOKING STATEMENT
Certain disclosure in this release may constitute forward-looking statements that are subject to numerous risks and uncertainties relating to Juggernaut's operations that may cause future results to differ materially from those expressed or implied by those forward-looking statements, including its ability to complete the contemplated private placement. Readers are cautioned not to place undue reliance on these statements. NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR AN INVITATION TO PURCHASE ANY SECURITIES DESCRIBED IN IT.