JIULIAN RESOURCES INC. (TSX-V: JLR) (“Jiulian” or the “Company”) announces further to its news release of December 18, 2018 the Company has completed the Offering by issuing 1,500,000 common shares of the Company that qualify as flow-through shares for purposes of the Income Tax Act (Canada) (“FT Shares”) at issue price of $0.10 per FT Share for gross proceeds of $150,000.
In connection with the Offering the Company paid finders’ fees of $5,250 cash and issued to a finder 105,000 warrants at an exercise price of $0.10 (the “Finder Warrants”). Each Finder Warrant entitles the holder to purchase a common share of the Company at a purchase price of $0.10 until December 24, 2018.
The shares issued under the Offering and any shares issued on exercise of Finders Warrants, will be subject to restrictions on transfer until April 25, 2019.
The proceeds will be used by the Company for exploration activities on the Company’s British Columbia properties.
The FT Shares have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.
Jiulian is an exploration company engaged in acquiring and advancing mineral properties located in southern British Columbia. The Company’s flagship asset is the wholly-owned, 4,056-hectare Big Kidd property, located near Aspen Grove, BC. The Company also wholly-owns the 8,654.49-hectare Little Fort property, located near Little Fort, BC. Jiulian Resources is based in Kelowna, British Columbia, and is listed on the TSX-V under the symbol “JLR”.
ON BEHALF OF THE BOARD OF DIRECTORS OF
JIULIAN RESOURCES INC.
“X. Charlie Cheng”
Chief Executive Officer
For more information regarding this news release, please contact:
Ed Milewski, Director
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, constitute “forward-looking information” as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including: that the Company’s financial condition and development plans do not change as a result of unforeseen events, that the Company obtains required regulatory approvals, that the Company continues to maintain a good relationship with the local project communities. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, which could result in delays, or cessation in planned work, that the Company’s financial condition and development plans change, delays in regulatory approval, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company’s expectations, as well as the other risks and uncertainties applicable to mineral exploration and development activities and to the Company as set forth in the Company’s Management’s Discussion and Analysis reports filed under the Company’s profile at www.sedar.com. There can be no assurance that any forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. The Company undertakes no obligation to update forward-looking information or statements, other than as required by applicable law.
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.