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Jourdan Resources update on private placements and further disclosure on acquisition of the Rome Lithium property
Jourdan Resources update on private placements and further disclosure on acquisition of th...
About this update from Consolidated Lithium Metals Inc
[{"type":"text","content":"\n\n\n\nJourdan Resources update on private placements and further disclosure on acquisition of the Rome Lithium property\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMISSISSAUGA, ON, June 6, 2018\n\n\n\nMISSISSAUGA, ON, June 6, 2018 /CNW/ - JOURDAN RESOURCES INC. (the \"Corporation\") (TSX-V NEX: JOR.H) is pleased to announce that, further to its March 1, 2018 press release, a first tranche of the Offering will be closed on June 11, 2018.\n\nIn preparation of the upcoming shareholders meeting, schedule for June 11, 2018, the Corporation is also pleased to provide additional information on the previously announced non-arm's length assignment agreement (the \"Agreement\") made effective August 9, 2017, with Fairmont Resources Inc. (\"Fairmont\") and Frédéric Bergeron (\"FB\"), wherein Fairmont agreed to assign and transfer its interest in an option agreement (the \"Option\") to acquire 100% of all right, title and interest in the Rome Lithium property (the \"Property\"), subject to 2% production royalty in favor of FB of which 1% can be redeemed by the Corporation for a cash payment of $1,000,000, to the Corporation, and the Corporation agreed to purchase such Option from Fairmont on the terms and conditions set forth in the Agreement (the \"Acquisition\").\n\nThe consideration payable by the Corporation in order to acquire the Option, in addition to the $25,000 already paid pursuant to the right of first refusal agreement between the Corporation and Fairmont dated June 22, 2017, consists of a payment of $50,000 in cash, 1,500,000 common shares of the Corporation (each a \"Share\") and a 2% net smelter return royalty of which 1% can be redeemed by the Corporation for a cash payment of $1,000,000. In addition, the Corporation is required to incur an aggregate of $150,000 in work expenditure on the Property; on or before June 10, 2019. The Corporation would have 37,723,112 Shares issued and outstanding after the issuance of the 1,500,000 Shares upon closing of the Acquisition.\n\nThe policies of the TSX Venture Exchange (the \"Exchange\") req...