In This Article:
Jade Leader Corp. (TSXV:JADE) ("Jade Leader" or "the Company") is pleased to announce that the Company has closed its previously announced non-brokered private placement for 6,625,000 common shares, at a price of $0.04 per share, for gross proceeds of CDN$265,000.
No finders fees were issued in connection with this transaction and all securities issued under the offering will be subject to a hold period of four months or June 5, 2025.
In connection with the Private Placement, current insiders purchased a total of 5,000,000 Common Shares. Jean-Pierre Jutras, the President of the Company, purchased 2,500,000 Common shares or 3.3% of the issued and outstanding shares of Jade Leader and now owns, directly or indirectly or exercises control or direction over 6,037,545 Common Shares or 8.1% of the issued and outstanding shares on a non-diluted basis (and representing 8.6% on a partly diluted basis, assuming the exercise of all Warrants held by Mr. Jutras).
Normand Goupil purchased 2,500,000 Common Shares or 3.3% of the issued and outstanding shares of Jade Leader and now owns, directly or indirectly or exercises control or direction over 10,044,000 Common Shares and 1,500,000 Warrants representing 13.4% of the issued and outstanding shares on a non-diluted basis (and representing 15.1% on a partly diluted basis, assuming the exercise of all Warrants held by Mr. Goupil).
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.
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.
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.