Business
Juggernaut Exploration Ltd. Expands Financing From $1,500,000 to $2,800,000 Due to Strong Demand From Institutions and Key Strategic Investors
VANCOUVER, British Columbia, Feb. 22, 2021 (GLOBE NEWSWIRE) -- Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the “Company” or “Juggernaut
About this update from Juggernaut Exploration Ltd
[{"type":"text","content":" VANCOUVER, British Columbia, Feb. 22, 2021 (GLOBE NEWSWIRE) -- Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the “Company” or “Juggernaut”) is pleased to report its previously announced non-brokered flow through financing consisting of units priced at $0.355 with a two year warrant priced at $0.375 of up to $1,500,000 on February 8th has been increased up to $2,800,000. 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 more than 30 years of experience including with major gold mining firms Homestake Mining, Newcrest Mining, and Newmont Mining. Dr. Hennigh stated “Juggernaut has a portfolio of promising early stage projects in and around the Golden Triangle, British Columbia. Funds from this placement will be used to undertake some fundamental exploration work with the aim of quickly generating new drill targets at some of its projects. In particular, the Midas property displays good potential for precious metal-rich volcanogenic massive sulfide discovery of “Eskay Creek” style. Although a fair amount of geologic work was undertaken at Midas over the past couple years, it is clear that the area of exploration interest is far larger than previously perceived and that the lion’s share of prospectivity remains untested. This is a classic opportunity whereby Crescat applies its friendly activist strategy toward building exploration strategy and helping to capitalize it.” View Jugge...