(TheNewswire)
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Oversubscribed Financing b yStrategic Investors Increased t o $1,000,000
Hard Dollars
Vancouver, British Columbia – TheNewswire - April 9 th, 2024 – Juggernaut Exploration Ltd.(TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the “Company” or“Juggernaut”) is pleased to announce anincreased non-brokered financing of up to $1,000,000 dollars due tostrong support from long term supporters and strategic investorsalike. Crescat Capital LLC (“Crescat”) has agreed to increase itsstrategic investment to 19.97 % ownership of the Company post-fundingon a partially diluted basis from the previously announced news onApril 8 th. Juggernaut welcomes this increased strategic investment fromCrescat Capital and technical support from DrQuinton Hennigh. Juggernaut’s High-Grade Gold and Copper projectscontinue to garner strong interest and support from leadinginstitutions and miners alike, confirming the quality of its threefully permitted, 100% controlled, drill-ready projects located in thegeopolitically stable world-class geologic terrane of NorthwesternBritish Columbia and the Golden Triangle.
Through his role as technical and geologic director ofCrescat Capital, Dr. Quinton Hennigh continues to provide technicaladvice to the Company. Dr. Hennigh is a world-renowned explorationgeologist with more than 30 years of experience, including with majorgold mining firms Homestake Mining, Newcrest Mining, and NewmontMining.
Dr. Hennighstated , "Verypromising results from 2023’s maiden drill program confirmed strongpotential for “Surebet” style intrusive-related gold-base metallodes at Bingo. In addition, follow up drilling at Midas continues todemonstrate the presence of a large volcanogenic massive sulfidesystem in need of further work. With interest in the miningexploration space quickly heating up, it is critical that companieslike Juggernaut get back to the job of making discovery. I lookforward to working with the Company’s team as plans are made forthis year’s drill campaign at both of these exciting projects."
View Juggernautvideos by Clicking Here .
The funding will consist of up to 16,666,667 units(“Units”), priced at $0.06 each for gross proceeds of up to$1,000,000. Each Unit will consist of one common share plus onewarrant to purchase one common share at $0.10 for a thirty-six-monthperiod with no accelerated conversion. Upon completion of theoffering, projected to close on or before May 1st, Crescat will ownunits representing a 19.97 % ownership in the Companypost-financing.
“We look forward to helping Juggernaut continue theirwork at Bingo and Midas in the coming drill season, given thepotential for a significant discovery, remarked Kevin Smith , Crescat’s founder and Chief Investment Officer . “This is the same exploration team that delivered a majorgold and silver discovery for us at Goliath Resources’ Surebet. Theyare highly capable of doing the same at one or both of thesetargets.”
Directors and officers of the company may acquiresecurities under the placement, which participation would beconsidered to be a “related party transaction” as defined underMultilateral Instrument 61-101 (“MI 61-101”). Such participationis expected to be exempt from the formal valuation and minorityshareholder approval requirements of MI 61-101.
Mr. Dan Stuart, Director, President,and CEO of Juggernaut, states:
“We are pleased to strengthen our relationship withCrescat Capital as a strategic investor and Dr. Hennigh as a SpecialTechnical Advisor and investor. I look forward to working with ourpartners, who bring a proven track record of both financial andtechnical strength. This will enable Juggernaut to unlock the fullpotential of its assets over the long term, building value for allshareholders. This investment and strategic partnership, coupled withthe ongoing support and interest from other globally recognizedInstitutions and senior miners, is a strong endorsement that clearlydemonstrates the significant near-term expansion discovery potentialof our 100% controlled properties—highlighting just one recentdiscovery on Bingo where multiple drill holesintersected high-grade gold-silver-copper mineralization along anextensive north-trending, west-dipping, shear-hosted vein with gradesup to 11.42 gpt AuEq (7.57 gpt Au, 20.23 gpt Ag and 2.72 % Cu) over5.11 meters, including 19.69 gpt AuEq (13.05 gpt Au, 24.93 gpt Ag and4.70 % Cu) over 2.90 meters. The shear-hosted vein at the Bingo MainZone is partially exposed at surfaces for over 600 meters, and onlythe main outcrop has been drill-tested to date, leaving the systemopen in all directions. With much anticipation, we look forward toexpanding our high-grade gold and copper discoveries through the drillbit on both Bingo and Midas in the rapidly approaching summer of2024.”
Link To Bingo High-Grade Gold CopperDiscovery.
Post financing, Juggernaut will have a tight capitalstructure, no debt, and a strong cash position. As such, we arewell-positioned to move forward with our plans.
The Company may pay finder's fees of the gross proceedsfrom the financing in cash, and compensation options on units beingsold. This non-brokered private placement is subject to TSX VentureExchange approval. All shares issued pursuant to this offering and anyshares issued pursuant to the exercise of warrants will be subject toa four-month hold period from the closing date.
About Crescat Capital LLC
Crescat is a global macro asset management firmheadquartered in Denver, Colorado. Crescat’s mission is to grow andprotect wealth over the long term by deploying tactical investmentthemes based on proprietary value-driven equity and macro models.Crescat’s goal is industry leading absolute and risk-adjustedreturns over complete business cycles with low correlation to commonbenchmarks. The company’s investment process involves a mix of assetclasses and strategies to assist with each client’s unique needs andobjectives and includes Global Macro, Long/Short, Large Cap andPrecious Metals funds.
Crescat is advised by its technical consultant, Dr.Quinton Hennigh on investments in gold and silver resource companies.Dr. Hennigh became an economic geologist after obtaining his PhD inGeology/Geochemistry from the Colorado School of Mines. He has morethan 30 years of exploration experience with major gold mining firms,including Homestake Mining, Newcrest Mining, and Newmont Mining.Recently, Dr. Hennigh founded Novo Resources Corp and is serving asChairman. Among his notable project involvements are First MiningGold’s Springpole gold deposit in Ontario, Kirkland Lake Gold’sacquisition of the Fosterville Gold Mine in Australia, the RattlesnakeHills gold deposit in Wyoming, and Lion One’s Tuvatu gold project inFiji, among many others.
About Juggernaut ExplorationLtd.
Juggernaut Exploration Ltd. is a precious metalsproject generator in the geopolitically stable jurisdiction of Canada,focused on the prolific geologic setting of northwestern BritishColumbia encompassing the Golden Triangle.
Qualified Person Rein Turna P.Geo is the qualified person as defined byNational Instrument 43-101 for Juggernaut Exploration’s projects. Hesupervised the preparation of and has reviewed and approved thetechnical information in this release.
For more information, pleasecontact
Juggernaut Exploration Ltd.
Dan Stuart
President, Director, and Chief Executive Officer
604-559-8028
info@juggernautexploration.com
NEITHER THE TSX VENTURE EXCHANGE NORITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THEPOLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THEADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD LOOKING STATEMENT
Certain disclosure in this release may constituteforward-looking statements that are subject to numerous risks anduncertainties relating to Juggernaut’s operations that may causefuture results to differ materially from those expressed or implied bythose forward-looking statements, including its ability to completethe contemplated private placement. Readers are cautioned not to placeundue reliance on these statements. NOT FOR DISSEMINATION IN THEUNITED STATES OR TO U.S. PERSONS OR FOR DISTRIBUTION TO U.S. NEWSWIRESERVICES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL ORAN INVITATION TO PURCHASE ANY SECURITIES DESCRIBED IN IT.
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