- Juggernaut (JUGR) has filed to close its previously announced non-brokered $3,040,000 financing
- The company will allocate the funds toward its upcoming 6,000 metre drilling program across its Midas, Empire and Bingo properties
- Crescat Capital’s participation in the financing affords it a 19.70-per-cent stake in Juggernaut
- Juggernaut Exploration is a precious metals company with three projects in British Columbia’s Golden Triangle
- Juggernaut (JUGR) stocks last traded at $0.155 per share
Juggernaut (JUGR) has filed to close its previously announced non-brokered $3,040,000 financing.
The oversubscribed financing was met with significant interest from strategic institutions, industry professionals and UHNWI investors.
Crescat Capital’s participation in the financing represents a 19.70-per-cent ownership stake in the company on a partially diluted basis.
Crescat is a global macro asset management firm headquartered in Denver, Colorado. It is focused on absolute and risk-adjusted returns over complete business cycles with low correlation to common benchmarks.
“We are delighted to see Juggernaut move toward drilling at Midas and Empire. Given the nature of the targets, potentially high grade and large, and the recent positive trend in the commodity space, Juggernaut is set to be one of the most exciting exploration stories in B.C. this year,” stated Quinton Hennigh, Juggernaut’s special technical advisor and the technical consultant for all Crescat’s gold and silver mining investments. “Having reviewed the drill plans, I am quite confident that they could make two notable discoveries this season.”
“I look forward to working with our partners who bring a proven track record of both financial and technical strength,” stated Dan Stuart, Juggernaut’s President and CEO. “Juggernaut will have a tight capital structure of just 62,447,452 shares, no debt, and a strong cash position of ~ $5,000,000. As such, we are well-positioned to move forward with our plans of drilling Midas, Empire and Bingo totaling approximately ~6,000 meters.”
Juggernaut intends to issue 19 million flow-through (FT) units priced at $0.16.
Each FT unit consists of one FT common share and one common share purchase warrant exercisable at $0.20 for two years.
All securities issued will be subject to a hold period of four months plus one day.
Juggernaut Exploration is a precious metals company with three fully permitted, 100-per-cent controlled, drill-ready projects in British Columbia’s Golden Triangle.
Juggernaut (JUGR) last traded at $0.155 per share.
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