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Jourdan Resources Increases Option Percentage in Preissac-Lacorne Lithium Portfolio
TORONTO, June 03, 2020 (GLOBE NEWSWIRE) -- Jourdan Resources Inc. (TSX-V: JOR) (“Jourdan” or the “Company”) is pleased to announce that, pursuant to an amending
About this update from Consolidated Lithium Metals Inc
[{"type":"text","content":" TORONTO, June 03, 2020 (GLOBE NEWSWIRE) -- Jourdan Resources Inc. (TSX-V: JOR) (“Jourdan” or the “Company”) is pleased to announce that, pursuant to an amending agreement (the “Amending Agreement”) entered into with Infinite Ore Corp. (“Infinite”; TSX-V: ILI; formerly Alix Resources Corp.) in connection with an option agreement, it has increased its percentage interest of an option (the “Infinite Option”) it holds in Infinite’s 145 claim Preissac-Lacorne lithium portfolio (the “Portfolio”) from 75% to 100%. For more information about the Infinite Option, please see the Company’s press releases dated May 9, 2017 and May 16, 2017, which are available under the Company’s SEDAR profile at www.sedar.com. In consideration for the increased percentage in the Portfolio, the parties agreed to adjust the consideration payable by the Corporation to exercise the Infinite Option to: (i) the $50,000 already paid to Infinite, as announced on May 16, 2017, (ii) the 600,000 common shares of the Corporation already issued to Infinite, as announced on May 16, 2017, and, (iii) the issuance to Infinite of an additional 8,100,000 common shares of the Corporation (the “Consideration Shares”). The Consideration Shares issuable in connection with the Infinite Option will be subject to the approval of the TSX Venture Exchange (“TSXV”) and will be subject to a statutory four month and one day hold period. About Jourdan Resources Jourdan Resources Inc. is a Canadian junior mining exploration company trading under the symbol JOR on the TSX-V 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: Aaron Atin Corporate Secretary [email protected] Cautionary statements This news release contains certain forward-looking statements, including statements regarding the Corporation’s exercise of the Infinite Option and the TSXV’s approval of the issuance of the Consideration Shares. These statements are subject to a number of risks and un...