- Juggernaut Exploration (TSXV:JUGR), a Canadian micro-cap gold stock, is seeking conditional approval for a non-brokered private placement of up to $1 million
- Investors include strategic institutions and high net-worth individuals
- Juggernaut Exploration is a precious metal and critical element project generator focused on three projects in British Columbia’s Golden Triangle
- Juggernaut Exploration (TSXV:JUGR) opened with a loss of 14.58 per cent trading at $0.205 per share
Juggernaut Exploration (TSXV:JUGR), a Canadian micro-cap gold stock, is seeking conditional approval for a non-brokered private placement of up to $1 million.
The company will allocate the funds to exploration and general working capital purposes.
“This strategic investment from globally recognized institutions, with ongoing support from senior miners, is a strong endorsement that clearly demonstrates the significant near-term discovery potential of our 100 per cent controlled properties,” Dan Stuart, president and CEO, said in a news release.
“Post financing, Juggernaut will have a tight capital structure of slightly in excess of approximately 70 million shares, no debt, and a strong cash position of approximately $4 million,” Stuart said in a statement. “As such, we are well-positioned to move forward with our expanded plans of drilling Midas, Empire and Bingo totaling approximately approximately 6,500 m. With much anticipation, we look forward to executing the inaugural drill and exploration programs and reporting results.”
Juggernaut recently broke ground on its Midas property, where the Kokomo VHMS target yielded a 1 m chip sample assaying 9.343 g/t gold, 117 g/t silver, 1.58 per cent Cu and 1.77 per cent Zn.
Drilling is also underway on the company’s Empire property, where prospecting identified surface mineralization over a 250 m x 225 m area. Grab samples from an outcropping massive sulphide vein assayed up to 36,875 g/t silver, 4.68 g/t gold, 27.6 per cent Cu and 3.27 per cent Zn, representing one of the highest silver samples collected from outcrop in Canadian history.
The maiden drill program on Juggernaut’s Bingo property is focused on extensive gold-mineralized grab, chip and channel samples over an area of 550 m x 175 m. High-grade gold from surface grab samples assayed up to 9.79 g/t gold, while channel samples assayed up to 1.77 g/t gold and 0.20 per cent copper over 4.85 m and 1.48 g/t gold and 0.37 per cent copper over 3.2 m.
The hard dollar financing will involve the sale of up to 8 million units priced at $0.125.
Each unit consists of one common share plus one share purchase warrant.
Each warrant is exercisable to purchase one common share for $0.20 for a 24-month period from the date of issuance. The warrants are subject to accelerated expiry with 30 days’ notice should shares reach or exceed $1 for 10 consecutive trading days.
Juggernaut directors and officers may acquire securities under the private placement.
All shares issued will be subject to a four-month hold period from the issuance date.
Juggernaut Exploration is a precious metal and critical element project generator based in Canada. It is primarily focused on three projects in northwestern British Columbia’s Golden Triangle.
Juggernaut Exploration (TSXV:JUGR) opened with a loss of 14.58 per cent trading at $0.205 per share. Shares are up by more than 144 per cent year to date.
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