TORONTO, Aug. 02, 2022 (GLOBE NEWSWIRE) -- On July 29, 2022, Stan Bharti acquired an aggregate of 5,000,000 flow-through common shares at a price of $0.10 per share and 6,250,000 units (each, a “ Unit ”) at a price of $0.10 per Unit of Jourdan Resources Inc. (the “ Company “) ( TSX-V: JOR) pursuant to a flow-through and unit private placement financing for an aggregate cost of $1,000,000. Each Unit consists of one common share of the Company (each, a “ Common Share ”) and one Common Share purchase warrant (each, a “ Warrant ”). Each Warrant entitles Mr. Bharti to acquire one additional Common Share at an exercise price of $0.10 for a period of 24 months from issuance. Prior to the acquisition of the aforesaid securities, Mr. Bharti owned 20,000,000 Common Shares and 10,000,000 Warrants. As a result of this transaction, Mr. Bharti now owns 31,2500,000 Common Shares and 16,250,000 Warrants, which represent approximately 15.33% of the outstanding Common Shares on a non-diluted basis and 21.58% on a partially-diluted basis.
Mr. Bharti acquired the Common Shares for investment purposes. Mr. Bharti may acquire additional securities of the Company in the future, may dispose of some or all of the securities or may continue to hold his current position.
A copy of the early warning report filed in respect of the transaction described above is available under the Company’s profile on SEDAR at www.sedar.com.