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Juggernaut Exploration Ltd. closes $1,510,000 oversubscribed financing

14.06.2018  |  GlobeNewswire
VANCOUVER, June 14, 2018 - Juggernaut Exploration Ltd. (TSX-V:JUGR) (Frankfurt:4JE) (the “Company or “Juggernaut”) is pleased to announce that its non-brokered private placement of $1,000,000 announced on June 8th, 2018 was increased based on strong demand and closed on $1,510,494. This is in addition to the recent oversubscribed financing of $2,743,000 that closed on April 26th, 2018. Juggernaut has closed on a combined total of $4,253,494 from both financings.

Mr. Dan Stuart, President & CEO states:

“The company is well funded and continues to garner attention and support of senior miners, institutions and strategic investors alike. Juggernaut looks forward to reporting results in the near future from the fully funded inaugural drilling and exploration programs on its 100% controlled Midas and Empire properties. Both projects have road access and are in close proximity to excellent infrastructure in Terrace, British Columbia.”

The offering consisted of flow-through units (each an "FT Unit") at the price of $0.37 and non-flow-through units (each an "NFT Unit") at the price of $0.28. Each FT Unit is comprised of one common share which is a "flow-through" share for Canadian income tax purposes and one share purchase warrant (each full warrant a "$0.74 Warrant"). Each $0.74 Warrant will entitle the holder to purchase one additional common share which is not a "flow-through" share at the price of $0.74 for 24 months. Each NFT Unit is comprised of one common share which is not a "flow-through" share and one share purchase warrant (each a "$0.56 Warrant"). Each $0.56 Warrant will entitle the holder to purchase one additional common share which is not a "flow-through" share at the price of $0.56 for a period of 36 months after Closing. If at any time after four months after the date of completion of the offering the Company's Shares have a closing price equal to or higher than $1.12 per Share for ten (10) consecutive trading days on the TSX-V (as defined herein), the Company shall thereafter be entitled to give notice to the holders of all $0.56 Warrants. If at any time after four months after the date of completion of the offering the Company's Shares have a closing price equal to or higher than $1.48 per Share for ten (10) consecutive trading days on the TSX-V (as defined herein), the Company shall thereafter be entitled to give notice to the holders of all $0.74 Warrants respectively, by news release, that such warrants will expire at 4:30 p.m. (Toronto time) on that date which is 30 days after the date of such news release unless exercised before the expiry of that period. The completed financing consisted of $1,130,809 in non-flow-through units and $379,685 of the flow-through units.

The Company will pay finder's fees equal to 6% of the gross proceeds from a portion of the financing in cash, and 6% finder’s warrants equal to the number of units sold in accordance with the policies of the TSX Venture Exchange. Completion of the private placement and the payment of the finders’ fees are subject to acceptance by the TSX Venture Exchange. All shares issued pursuant to the offering (including shares issued to finders) and any shares issued pursuant to the exercise of warrants will be subject to a four-month hold period from the closing date. The Company will pay a total of $74,796 in Finders Fees, 185,769 and 61,571 in Finders warrants in relation to the non flow-through and flow through units sold respectively. These warrants are priced and have the same terms as the warrants attached to the respective units sold.

Further information regarding Juggernaut Exploration Ltd. can be found at JuggernautExploration.com.

Dan Stuart Director, President, and CEO
dan@JuggernautExploration.com
+1-604-559-8028

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Juggernaut Exploration Ltd.
Suite 1010-1130 West Pender St.
Vancouver BC V6E-4A4
Office # 1-604-559-8028
Fax # 1-604-681-1864

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