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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"