Jade Leader Increases Financing

Rhea-AI Summary

Jade Leader Corp. (TSXV:JADE) has announced an increase in its non-brokered private placement offering. The company will now offer up to 6,625,000 common shares at $0.04 per share, aiming to raise gross proceeds of up to CDN$265,000.

The offering targets accredited investors, with all securities subject to a four-month plus one-day hold period from closing. The financing requires TSX Venture approval. Proceeds will support 2025 working capital, general corporate purposes, Jade exploration, and Jade marketing activities.

Company insiders will participate in the Private Placement, constituting a 'related party transaction' under TSX Venture Exchange Policy 5.9 and MI 61-101. The company will utilize exemptions from formal valuation and minority shareholder approval requirements, as the fair market value won't exceed 25% of the company's market capitalization.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

CALGARY, AB / ACCESS Newswire / January 23, 2025 / Jade Leader Corp. (TSXV:JADE) ("Jade Leader" or "the Company") is pleased to announce that the Company will increase its previously announced non-brokered private placement and will now offer up to 6,625,000 common shares, at a price of $0.04 per share, for gross proceeds of up to CDN$265,000.

The shares are to be offered on a non-brokered basis by way of private placement to accredited investors. All securities issued under the offering will be subject to a hold period of four months plus one day from the date of closing. This financing is subject to TSX Venture approval.

Proceeds of the financing are to be used for 2025 working capital, general corporate purposes as well as additional Jade exploration and Jade marketing activities.

In connection with the Private Placement, insiders will purchase shares. The participation of those individuals constitutes a "related party transaction" within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument MI 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") adopted in the Policy. The Company will rely on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the subject matter of the Private Placement will not exceed 25% of the market capitalization of the Company as calculated in accordance with MI 61-101.

About Jade and Jade Leader Corp.

Recent trade articles and mainstream publications suggest that the international Jade market is now larger than the better-known worldwide market for rough diamonds, without any participation in the space by publicly listed Companies prior to the formation of Jade Leader Corp.

Jade Leader, with a Board of Directors having over 120 years of combined experience as mineral exploration geologists with proven track records of discoveries, is led by JP. Jutras, B.Sc Hons geology, P.Geol., who is also an internationally recognized Jade carver with over 30 years of experience.

Jade Leader is leveraging this unique combination of mineral exploration expertise and Jade carving knowledge to advance a portfolio of 6 Jade exploration properties, all carrying nephrite Jade with various characteristics, in stable, mining-friendly jurisdictions in the USA.

On Behalf of the Board of Directors,

"Jean-Pierre Jutras"

Jean-Pierre Jutras, President/Director

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.

Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of Jade Leader's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Jade Leader. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Jade Leader's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Jade Leader's filings with the Canadian securities authorities. Accordingly, holders of Jade Leader shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Jade Leader disclaims any responsibility to update these forward-looking statements.

SOURCE: Jade Leader Corp.

View the original press release on ACCESS Newswire

FAQ

How much is Jade Leader Corp. (TSXV:JADE) raising in its increased private placement?

Jade Leader Corp. is raising up to CDN$265,000 through the offering of 6,625,000 common shares at $0.04 per share.

What is the hold period for securities issued in Jade Leader's 2025 private placement?

All securities issued under the offering will have a hold period of four months plus one day from the closing date.

How will Jade Leader use the proceeds from its 2025 private placement?

The proceeds will be used for 2025 working capital, general corporate purposes, Jade exploration, and Jade marketing activities.

Why is insider participation in Jade Leader's private placement considered a 'related party transaction'?

Insider participation triggers TSX Venture Exchange Policy 5.9 and MI 61-101 requirements, though exemptions apply as the fair market value is below 25% of market capitalization.

What is the price per share for Jade Leader's 2025 private placement?

The private placement offers common shares at a price of $0.04 per share.