NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
CALGARY, AB / ACCESSWIRE / April 19, 2023 / Jade Leader Corp. (TSXV:JADE) ("Jade Leader" or "the Company") has closed the final tranche of its private placement raising total gross proceeds of $259,000.
The final tranche consisted of 1,060,000 Units at a price of $0.05 per Unit or $53,000. Each unit consisted of one common share and a half of a common share purchase warrant. Each full common share purchase warrant (a "Warrant") entitles the holder to purchase an additional common share at a price of $0.10 per share until April 19, 2025.
The Units were offered on a non-brokered basis by way of private placement to accredited investors. All securities issued under the offering have a hold period of four months plus one day or until August 20, 2023. No finders fees were paid on this portion of the financing.
In connection with the Private Placement, insiders purchased a total of 520,000 Units. The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the subject matter of the Private Placement does not exceed 25% of the market capitalization of the Company as calculated in accordance with MI 61-101.
Proceeds of the financing are to be used for working capital, general corporate purposes as well as additional Jade exploration and Jade marketing activities.
On Behalf of the Board of Directors,
"Jean-Pierre Jutras"
Jean-Pierre Jutras, President/Director
For Further Information Contact:
[email protected]
Jade Shop: www.jadeleader.shop
Instagram: @jadeleadercorp
Youtube Channel: Jade Leader Corp.
www.jadeleader.ca
Or Jean Pierre Jutras, President at 1.403.233.0464
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.
SOURCE: Jade Leader Corp.