Jourdan Resources Inc (OTCMKTS:JORFF) Stock On Radar After Closing Final Tranche of Private Placement

It was a momentous day for Jourdan Resources Inc (OTCMKTS:JORFF) on Thursday as the company announced that it had been successful in closing the second tranche of its previously announced non-brokered private placement.

Trading Data

On Thursday, JORFF stock moved up 0.19% to $0.0520 with more than 89.77K shares, compared to its average volume of 137.71K shares. The stock moved within a range of $0.0500 – 0.0520 after opening trade at $0.0515.

Jourdan Closes Final Tranche of Private Placement

The company offered the units in the offering for $0.07 each to generate gross proceeds to the tune of $631034.74. The company had previously released information with regards to the closing of the first tranche of the private placement back on March 17 and April 23 this year. Both those press releases are available on the SEDAR profile of Jourdan Resources on the SEDAR website.

In the final tranche of the offering the company offered a total of 9014782 units for the price of $0.07 each. Each unit was made up of one common share in the company and half of a share purchase warrant. A whole warrant would entitle the holder of the said warrant to pick up an additional common share in the company for the price of $0.10 up until June 1, 2024. The securities issued in the second tranche are going to be subject to a hold period of four months and a day and would expire on October 2, 2023.