Juggernaut Closes $3,040,000 Financing With Crescat Capital as Lead Investor
VANCOUVER, British Columbia, May 15, 2023 (GLOBE NEWSWIRE) -- Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the “Company” or “Juggernaut”) further to its May 12th, 2023 news release, Juggernaut is pleased to report that it has received TSX Venture Exchange approval to close its non-brokered private placement financing (the “Financing”) for aggregate gross proceeds of $3,040,000.
- VANCOUVER, British Columbia, May 15, 2023 (GLOBE NEWSWIRE) -- Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the “Company” or “Juggernaut”) further to its May 12th, 2023 news release, Juggernaut is pleased to report that it has received TSX Venture Exchange approval to close its non-brokered private placement financing (the “Financing”) for aggregate gross proceeds of $3,040,000.
- The use of funds from this financing will be to drill ~6000 meters on Juggernaut’s 100% controlled Midas, Empire and Bingo properties targeting prolific high grade Gold and Copper at surface.
- The Company has issued 19,000,000 $0.16 Flow-Through Units (“FT Units”), each FT Unit consisting of 1 flow-through common share of the Company, and 1 common share purchase warrant exercisable for an additional common share at $0.20 for two years from the date of issuance, for total gross proceeds of $3,040,000.
- In connection with the financing the Company has paid the following finders’ fees in cash and broker warrants:
West Harbour Capital - $32,400 cash, 324,000 non-transferable broker warrants
Echelon Wealth Partners - $1,800 cash, 18,000 non-transferable broker warrants
All securities issued pursuant to this financing will be subject to a four-month plus one-day hold.