Business
Ardonblue Closes on $3,000,000 Non-Brokered Financing and Midas and Empire Options /Qualifies for Graduation to Tier 2 of TSX Venture Exchange as Mining Issuer
Vancouver, British Columbia--(Newsfile Corp. - July 19, 2017) - Ardonblue Ventures Inc. (TSXV...
About this update from Juggernaut Exploration Ltd
[{"type":"text","content":"Ardonblue Closes on $3,000,000 Non-Brokered Financing and Midas and Empire Options /Qualifies for Graduation to Tier 2 of TSX Venture Exchange as Mining IssuerVancouver, British Columbia--(Newsfile Corp. - July 19, 2017) - Ardonblue Ventures Inc. (TSXV: ARB.H) (the \"Company\" or \"Ardonblue\") is pleased to announce that it has completed the $3,000,000 non-brokered private placement financing announced on June 9, 2017 and has made the first option payments in respect of the Midas and Empire mineral properties pursuant to the two option agreements announced on March 15, 2017. The Company has been advised by TSX Venture Exchange (the \"Exchange\") that by completing those transactions, the Company qualifies for graduation from NEX to Tier 2 of the Exchange as a Mining Issuer. On closing of the private placement, the Company issued 20,000,000 units comprised of one common share and one warrant at the price of $0.15 per unit. Each of such warrants entitles the holder to acquire one additional common share for $0.25 for 24 months from closing, subject to the right of the Company to accelerate the exercise period of the warrants to 20 days if shares of the Company have a closing price of $0.50 or higher for ten (10) consecutive trading days. No finders' fees were paid in connection with the financing.The Company has also issued 8,200,000 units and paid $300,000 to the 16 members of the J2 Syndicate as the initial option payment under each of the Midas and Empire option agreements. Each of such units is comprised of one common share and one warrant entitling the holder to acquire one additional share at the price of $0.08 for 60 months from closing. The option agreements provide the Company with the right to acquire a 100% interest in the 13,445.09 hectare Midas property situated in the Skeena Mining District of British Columbia (412 units) and the 9,739.94 hectare Empire property situated in the Omineca Mining District of British Columbia (299 units), in each case subject to the NSR and other terms described in the March 15, 2017 news release. No finders' fees were paid in connection with the acquisition of the options.In connection with the referenced transactions, the Company has also issued 5,500,000 shares in settlement of $330,000 of debt as described in the Company's March 15, 2017 news release. An additional $89,316 in debt wa...