Jade Leader Increases Private Placement and Closes First Tranche of Financing
Calgary, Alberta (FSCwire) - Jade Leader Corp. (TSX.V: JADE) (“Jade Leader” or “the Company”) is pleased to announce that it has increased its previously announced non-brokered private placement to up to 4,800,000 Units, at a price of $0.25 per Unit, for gross proceeds of $1,200,000.
Jade Leader has also closed the first tranche of its private placement for a total of 3,865,816 Units at a price of $0.25 per Unit to raise gross proceeds of $966,454. Each unit consisted of one common share and a common share purchase warrant. Each common share purchase warrant (a “Warrant”) entitles the holder to purchase an additional common share at a price of $0.40 per share until October 12, 2020. The common shares issued pursuant to this private placement are subject to a hold period until February 13, 2019. In connection with the first tranche of the Offering, Jade Leader has agreed to pay finder’s fees of $27,750.
The second and final tranche of the private placement is expected to close in the next 10 days and all securities issued in connection with this tranche of the Offering will be subject to a four month hold period from the date of closing.
Jade Leader has been advised by its drilling contractor that mobilization of required equipment has begun, and anticipates that the Maiden drilling program on its DJ property will begin in the coming week.
The Company is also extremely pleased to announce the recent publication of its article “A Jade spring begins in America” in the largest stone collectibles publication of its kind in China, translated as "Mineral Lovers." This Journal is recognized by museums and private collectors as the authority in a community ranging from traditional view stones to jade as well as scientific objects, crystals and high end mineral samples in the many museums of China, both public and private. The Editor and Publisher of Mineral Lover, Mr. Zhou Yishan is highly respected in the technical field and acts as a top consultant for quality and valuation purchases for Museums, Jade fair judging and other related matters. The magazine circulates to both government museums and a large number of private museums, as well as top jade and mineral private collectors in China. In Chinese culture, the credibility of this rapid publication in the major trade journal is considered to be a high mark of quality and credibility.
The article is an introduction of the various nephrite jade types and their geological context found during early exploration at the Company’s DJ project, for which drill mobilization is currently underway. A pdf copy of the article, in both English and Chinese, can be found on our website, Jadeleader.ca, under “presentations and fact sheets”.
On Behalf of the Board of Directors,
Jean-Pierre Jutras, President/Director
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.
Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as “expects”, “projects”, “plans”, “anticipates” and similar expressions, are forward-looking information that represents management of Jade Leader’s internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Jade Leader. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Jade Leader’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Jade Leader’s filings with the Canadian securities authorities. Accordingly, holders of Jade Leader shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Jade Leader disclaims any responsibility to update these forward-looking statements.
To view the original release, please click here
Source: Jade Leader Corp. (TSX Venture:JADE, OTC Bulletin Board:MCKRF, FWB:BG6A)
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