NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
TORONTO, Sept. 22, 2020 (GLOBE NEWSWIRE) -- Sulliden Mining Capital Inc. (TSX: SMC) (“Sulliden” or the “Company”) has acquired 6,100,000 units of Jourdan Resources Inc. (“Jourdan”) (TSX-V: JOR) in a non-brokered private placement financing of Jourdan at a price of $0.015 per unit for a total subscription of $91,500. Each unit is comprised of one Jourdan common share and one Jourdan common share purchase warrant. Each common share purchase warrant is exercisable for one common share of Jourdan at a price of $0.05 for a period of 24 months.
Prior to this transaction, Sulliden owned 3,000,000 shares of Jourdan, representing approximately 5.1% of the then issued and outstanding common shares on a non-diluted basis. As a result of this transaction, Sulliden owns 9,100,000 Jourdan shares and 6,100,000 Jourdan common share purchase warrants, which represents 8.36% of Jourdan on an issued and outstanding basis or 13.22% on a partially diluted basis.
Sulliden completed this private placement for investment purposes and may buy or sell Jourdan securities in the future.
About Sulliden Mining Capital
Sulliden Mining Capital is a venture capital company focused on acquiring and advancing brownfield, development-stage and early production-stage mining projects in the Americas.
Sulliden Mining Capital Inc.
On behalf of the Board
Chief Financial Officer
+1 (416) 861-2267
Cautionary statement regarding forward-looking information
This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, statements with respect to the future financial or operating performance of the Company, Sulliden’s possible future trading and intentions, valuations of investments, proposed transactions and investments, investment philosophy and liabilities and commitments. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: financing not being available at desired prices; general business, economic, competitive, political and social uncertainties; and other general risks of the mining and investment industries. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
THE TSX HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OF THIS RELEASE
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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