Juggernaut Closes Its Non-Brokered Financing as Crescat Capital Completes Its Strategic Investment in the Company
05 March 2021 - 11:45PM
Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF)
(FSE: 4JE) (the “Company” or “Juggernaut”) is pleased to
report that it has closed its previously announced (see news
releases dated February 8, 2021, February 22, 2021, and March 1,
2021) private placement financing (the “Financing”). Crescat
Capital LLC (“Crescat”) has made a strategic investment
representing a 9.90% ownership of the Company and will have the
option to participate in future financings to maintain its interest
level for a three-year period from today. Dr. Quinton Hennigh has
been appointed as a technical advisor to the Company.
View
Juggernaut video by clicking here.
About Crescat Capital LLC
Crescat is a global macro asset management firm
headquartered in Denver, Colorado. Crescat’s mission is to grow and
protect wealth over the long term by deploying tactical investment
themes based on proprietary value-driven equity and macro models.
Crescat’s goal is industry leading absolute and risk-adjusted
returns over complete business cycles with low correlation to
common benchmarks. The company’s investment process involves a mix
of asset classes and strategies to assist with each client’s unique
needs and objectives and includes Global Macro, Long/Short, Large
Cap and Precious 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 in Geology/Geochemistry from the Colorado School of Mines.
He has more than 30 years of exploration experience with major gold
mining firms that include Homestake Mining, Newcrest Mining and
Newmont Mining. Among his notable project involvements are First
Mining Gold’s Springpole gold deposit in Ontario, Kirkland Lake
Gold’s acquisition of the Fosterville Gold Mine in Australia, the
Rattlesnake Hills gold deposit in Wyoming, and Lion One’s Tuvatu
gold project on Fiji, among many others.
About Juggernaut Exploration
Ltd.
Juggernaut Exploration Ltd. is a precious metals
project generator in the geopolitically stable jurisdiction of
Canada, focused on the prolific geologic setting of northwestern
British Columbia. Juggernaut’s 4 properties are 100% controlled
containing original discoveries with exposure to gold, silver, and
base metals.The Company has issued 10,000,000 $0.25
non-flow-through units (“NFT units”), each NFT unit consists of 1
common share of the Company and 1 common share purchase warrant
exercisable for an additional common share at $0.375 for 2 years,
and 7,888,324 flow-through units (“FT Units”), each FT unit
consists of 1 flow-through common share of the Company, and 1
common share purchase warrant exercisable for an additional common
share at $0.375 for two years, for total gross proceeds of
$5,300,000.
Finder’s fees, cash, and broker warrants, have
been paid in accordance with exchange policy in relation to the
financing and all securities issued pursuant to the financing are
subject to a 4-month hold expiring July 4, 2021.
Mr. Dan Stuart, Director, President and
CEO of Juggernaut states:
“We are pleased to welcome both Crescat Capital
as a strategic investor and Dr. Hennigh as a Special Technical
Advisor and investor. I look forward to working with our new
partners who bring a proven track record of both financial and
technical strength. This will enable Juggernaut to unlock the full
potential of its assets over the long term, building value for all
shareholders. This significant investment of $5,300,000 and
strategic partnership, coupled with the ongoing institutional
support and interest from senior miners, is a strong endorsement
that clearly demonstrates the significant near-term discovery
potential of our four 100% controlled properties. With less than
39M shares issued and outstanding, no debt, and a strong cash
position, we are well positioned to move forward with exploration
and drilling programs on our properties this summer. With much
anticipation, we look forward to executing the inaugural drill and
exploration programs and reporting results.”
For more information, please contact
Juggernaut Exploration Ltd.Dan StuartPresident,
Director and Chief Executive Officer
604-559-8028www.juggernautexploration.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD LOOKING STATEMENT
Certain disclosure in this release may
constitute forward-looking statements that are subject to numerous
risks and uncertainties relating to Juggernaut’s operations that
may cause future results to differ materially from those expressed
or implied by those forward-looking statements, including its
ability to complete the contemplated private placement. Readers are
cautioned not to place undue reliance on these statements. NOT FOR
DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS OR FOR
DISTRIBUTION TO U.S. NEWSWIRE SERVICES. THIS PRESS RELEASE DOES NOT
CONSTITUTE AN OFFER TO SELL OR AN INVITATION TO PURCHASE ANY
SECURITIES DESCRIBED IN IT.
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