Jayden Arranges Unit Offering
Vancouver, B.C. - TheNewswire - April 27, 2021 - Jayden Resources Inc., ("Jayden" or the “Company”) (TSXV:JDN) (OTC:PNMLF) is pleased to announce a unit offering (“Offering”) of up to 7,100,000 units ("Units") at a price of $0.12 per Unit for gross proceeds of up to $852,000. Each Unit is comprised of one (1) common share in the capital of Jayden (“Common Share”) and one-half (1/2) of one transferable Common Share purchase warrant (“Warrant”). Each whole Warrant entitles the holder to purchase one (1) additional Common Share at a price of $0.22 for a period of two (2) years following the date of closing.
The Warrants will be subject to an acceleration clause whereby, commencing on the date that is four months and one day following the Closing Date, Jayden may, in its sole discretion, provide notice to warrant holders to shorten the Warrant expiry date to 30 days from the notice date if the daily volume weighted average closing price of Jayden’s shares is greater than $0.32 for the 10 consecutive trading days preceding the notice date.
The private placement is subject to TSX Venture Exchange approval. The shares and units will be subject to a four-month-plus-one-day hold period from the date of issuance. $350,000 of the proceeds of the Offering will be allocated to the Company’s Storm Lake Property (a $200,000 1st year cash payment related to the acquisition of the property and $150,000 in exploration expenditures). A further $350,000 of the proceeds will be allocated to exploration expenditures on the Company’s Harry Property. The balance of the proceeds will be used for working capital purposes.
For further information about the Company or this news release email info@jaydenresources.com, or call Mike Thast at 604-688-9588 or visit our website at www.jaydenresources.com.
On Behalf of the Board:
"David Eaton"
President and Director
Disclosure and Caution
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither 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.