{kanada_flagge}To fund the upcoming drill season on its Midas, Empire and Bingo projects in British Columbia’s Golden Triangle (totaling approximately 6,000 meters), Juggernaut Exploration Ltd. (TSX-V: JUGR; OTCQB: JUGRF; FSE: 4JE) has announced flow-through financing of up to $3.0 million. The company will use the upcoming capital round to bring on board Crescat Capital LLC as a strategic investor.
{kanada_flagge}To fund the upcoming drill season on its Midas, Empire and Bingo projects in British Columbia’s Golden Triangle (totaling approximately 6,000 meters), Juggernaut Exploration Ltd. (TSX-V: JUGR; OTCQB: JUGRF; FSE: 4JE) has announced flow-through financing of up to $3.0 million. The company will use the upcoming capital round to bring on board Crescat Capital LLC as a strategic investor.
Crescat is a global macro asset management firm headquartered in Denver, Colorado. Crescat will hold a 19.17% stake upon completion of the financing. Concurrently, Dr. Quinton Hennigh, the technical advisor for all of Crescat’s gold and silver mining investments, will assume the role of dedicated technical advisor. Quinton is. Hennigh called the Juggernaut “one of the most exciting exploration stories in BC this year.”
The flow-through financing will consist of up to 18,750,000 flow-through units (“FT Units”) offered at a price of $0.16 each. Each FT Unit will consist of one flow-through common share and one warrant to purchase one non-flow-through common share at a price of $0.20 for a period of twenty-four months without mandatory conversion. The flow-through offering is expected to close on or before May 15.
Mr. Dan Stuart, Director, President and CEO of Juggernaut, stated, “We are pleased to strengthen our relationships with both Crescat Capital as a strategic investor and Dr. Hennigh as a special technical advisor and investor. I look forward to working with our partners who have a proven track record of both financial and technical success.”
Following the financing, Juggernaut will have a tight capital structure of 62,197,452 shares and a strong cash position of approximately $5,000,000.
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