(TheNewswire)
Vancouver, British Columbia - TheNewswire - November30 , 2023 - Further to the news releases of November6, 2023, and November 20, 2023, Juggernaut ExplorationLtd. (TSX-V:JUGR) (OTC:JUGRF)(FSE:4JE) (the “Company” or “Juggernaut”) is pleased to announce it has filed documents with the TSXVenture Exchange (“TSXV”) for approval to close the second andfinal tranche of its non-brokered financing of 1,402,460 units,combined with the first tranche close of 12,092,616 units. CrescatCapital LLC (“Crescat”) and Dr. Quinton Hennigh personally havesubscribed to this institutionally supported financing. This is afollow-on investment by Crescat, previously announced on May12 th, 2023 (Link to May12 th 2023news) . Post-closing of thisfinancing, Crescat will retain a significant portion of the company,and Juggernaut welcomes this additionalstrategic investment. Dr. Quinton Hennigh has long provided histechnical support to the projects, and the Company looks forward tohis continuing guidance. Juggernaut’s projects continue to garnerstrong interest and support from leadinginstitutions and miners alike globally, confirming the quality of itsthree fully permitted, 100% controlled, drill-ready projects, Midas,Empire, and Bingo, located in world-class geologic terrane ofNorthwestern British Columbia encompassing the Golden Triangle.
Dr. Quinton Hennigh is a special technical advisor to the Company and technicaland geologic director of Crescat. Dr. Hennigh is a world-renownedexploration geologist with more than 30 years of experience, includingwith major gold mining firms Homestake Mining, Newcrest Mining, andNewmont Mining.
Dr. Hennigh stated , “Juggernaut had a very successfulexploration season in 2023. Over the past couple of years, theCompany’s exploration team diligently accumulated high-quality datato define drill targets with maximum chance of success at the flagshipMidas precious metal-rich VMS project near Terrace, BC. That work paidoff this year when Juggernaut encountered long intervals of stockworkfeeder mineralization displaying considerable sulfides, includingchalcopyrite. This program has confirmed the presence of a sizable,strong VMS system at Midas. We anxiously await results from thisencouraging drill program.”
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Dan Stuart, Director, President, andCEO of Juggernaut, states:
“We are pleased to strengthen our ongoingrelationship with both Crescat Capital as a strategic investor and Dr.Hennigh as a Special Technical Advisor and personal investor. We lookforward to continuing to work with our partners, who bring a proventrack record of both financial and technical strength. This willenable Juggernaut to unlock the full potential of its assets over thelong term, building value for all shareholders. This investment andcontinued strategic partnership, coupled with the ongoing support andinterest from other globally recognized Institutions and seniorminers, is a strong endorsement that clearly demonstrates the significant near-term discovery potential of our 100%controlled properties. Post financing, Juggernaut will have a tightcapital structure of just 76,044,528. As such, we are well-positionedto move forward with our plans of further drilling on Midas, Empire,and Bingo. With much anticipation, we look forward to releasing drillresults once received, complied with, and interpreted by the technicalteam.
The Company has paid finder's fees in cash and brokerwarrants. This non-brokered private placement is subject to TSXVapproval, and all securities issued pursuant to this offering aresubject to a four-month plus one-day hold period from the date ofissuance.
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 Ph.D. 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.
The use of proceeds from this financing is for anoption payment requirement related to Bingo, Due Dec 30 th, 2023; Bingois located next door to our sister company, Goliath Resources SurebetDiscovery. Bingo contains the same world-classgeological units, including Hazelton Volcanics and related sedimentsand intrusives, as well as completion of Midas and Empireinterpretation and general working capital.
Each Unit will consist of one common share at $0.13plus one warrant to purchase one common share at $0.25 for athirty-six-month period with a conversion option at managementdiscretion “may” exercise at $1.00 upon 10 consecutive trading ator above.
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.
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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