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Juggernaut Exploration Announces Strategic Investment by Crescat Capital for 19.17% Ownership; Dr. Quinton Hennigh Technical Advisor
VANCOUVER, British Columbia, April 03, 2023 (GLOBE NEWSWIRE) -- Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the “Company” or “Juggernau
About this update from Juggernaut Exploration Ltd
[{"type":"text","content":" VANCOUVER, British Columbia, April 03, 2023 (GLOBE NEWSWIRE) -- Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the “Company” or “Juggernaut”) is pleased to announce a non-brokered flow through financing of up to $3.0 million dollars. Crescat Capital LLC (“Crescat”) has agreed to make a strategic investment representing a 19.17% ownership of the Company post funding on a partially diluted basis. Juggernaut welcomes this strategic investment from Crescat Capital and technical support from Dr Quinton Hennigh. Juggernaut’s projects continue to garner strong interest and support from leading institutions and miners alike, confirming the quality of its three fully permitted, 100% controlled, drill ready projects located in world class geologic terrane of Northwestern British Columbia and the Golden Triangle. Dr. Quinton Hennigh has taken on the role as special technical advisor to the Company. He is the technical consultant for all Crescat’s gold and silver mining investments. Dr. Hennigh is a world-renowned exploration geologist with more than 30 years of experience including with major gold mining firms Homestake Mining, Newcrest Mining, and Newmont Mining. Dr. Hennigh stated \"We are delighted to see Juggernaut move toward drilling at Midas and Empire. Given the nature of the targets, potentially high grade and large, and the recent positive trend in the commodity space, Juggernaut is set to be one of the most exciting exploration stories in BC this year. Having reviewed the drill plans, I am quite confident that they could make two notable discoveries this season.\" View Juggernaut videos by Clicking Here. The flow through funding will consist of up to 18,750,000 flow through units (“FT Units”), priced at $0.16 each for gross proceeds of up to $3,000,000. Each FT Unit will consist of one flow-through common share plus one warrant to purchase one non flow-through common share at $0.20 for a twenty-four month period with no forced conversion. Upon completion of the flow through offering that is projected to close on or before May 15th, Crescat has agreed to acquire a majority of these units representing a 19.17 % ownership in the Company post financing. Directors and officers of the company may acquire securities under the placement, which participation would be considered to be a “related party transaction” a...