TORONTO, Sept. 14, 2022 (GLOBE NEWSWIRE) — JOURDAN RESOURCES INC. (TSXV: JOR; OTCQB: JORFF; FRA:2JR1) (“Jourdan” or the “Company“) is pleased to announce that it has entered into a net smelter return royalty agreement (the “Royalty Agreement”) with an arm’s length third party (“Holder”), pursuant to which the Corporation has agreed to pay, beginning on the date on which any portion of Jourdan’s Vallée property comes into commercial production, to the Holder, a net smelter royalty (the “Royalty”) at a fixed rate of 2% of the net smelter return. As consideration, the Holder has agreed to pay Jourdan an aggregate cash payment of C$1 million, with C$500,000 payable within 30 days from the date of the agreement and the remaining C$500,000 payable in equal tranches of C$100,000 every three months commencing January 2, 2023.
About Jourdan Resources Inc.
Jourdan Resources Inc. is a Canadian junior mining exploration company trading under the symbol “JOR” on the TSX Venture Exchange and “2JR1” on the Stuttgart Stock Exchange. The Company is focused on the acquisition, exploration, production, and development of mining properties. The Company’s properties are in Quebec, Canada, primarily in the spodumene-bearing pegmatites of the La Corne Batholith, around North American Lithium’s producing Quebec Lithium Mine.
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