Business
Juggernaut Exploration Increases Financing From $2,800,000 to $5,300,000 Due to Strong Demand From Institutions, Strategic Investors and Insiders
VANCOUVER, British Columbia, March 01, 2021 (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, March 01, 2021 (GLOBE NEWSWIRE) -- Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the “Company” or “Juggernaut”) is pleased to report that it has received Conditional Approval from the TSX Venture Exchange (the “Exchange”) for its previously announced (see news releases dated February 8, 2021 and February 22, 2021) private placement financing (the “Financing”). The company will have in excess of $6,000,000 in cash no debt and less than 39MM share issued and outstanding post financing. The significant investment of $5,300,000 by Institutions, Strategic investors, insiders coupled with interest from senior miners is a strong testament to Juggernauts properties and planned 2021 exploration programs. Juggernauts 4 properties are 100% controlled containing original discoveries with exposure to gold, silver and base metals located in world class geologic terrain of North Western British Columbia Canada. Juggernaut’s previously announced a expanded non-brokered flow through financing consisting of units priced at $0.355 with a two year warrant priced at $0.375 of up to $2,800,000 on February 22nd. The company has now received $2,500,000 in a fully subscribed hard dollar financing consisting of units priced at $0.25 with a two year warrant priced at $0.375. Crescat Capital LLC (“Crescat”) has agreed to make a strategic investment representing a 9.90% ownership of the Company post funding. As part of the terms, they will also have an option to participate in future financings to maintain their 9.90% interest for a three-year period from the date of closing scheduled for March 5 2021. “Crescat is taking an activist approach to investing in the precious metals mining industry today. Our goal at this stage of the cycle is to identify and invest in a portfolio of potentially big, high-grade discoveries in the hands of undervalued juniors where we can help unlock value. We are excited about Juggernaut and the discovery potential of its assets,” remarked Kevin Smith, Crescat’s founder and Chief Investment Officer. 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 m...