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CALGARY, AB / ACCESSWIRE / July 28, 2021 / Jade Leader Corp. (TSXV:JADE) ('Jade Leader' or 'the Company') is pleased to announce initial Jade sales that allow Jade Leader to begin establishing a market valuation for Jade mined from its Wyoming properties. These two initial sales totalled some 2.8 Kg of material sold on a per gram basis, with prices ranging from US$0.25 per gram ($250 per kilo), to US$1.00 per gram ($1,000/kilo). Gross proceeds received to date totaled US$1,350.
Materials sold included Sage Jade, Green Sky Jade and Black Jade collected from the T1 target during previous years' exploration activities. The buyers are based in the US and New Zealand; historically important markets for Wyoming Jade production. Factors affecting prices include colors, uniformity of the Jade, alteration rinds and size of individual pieces. Further sales discussions are under way regarding both rough and finished Sky Jades and other Jade products held by the Company.
'These sales are extremely important milestones that begin to set the bar on a market valuation reflecting the economic importance of our discoveries. The prices realized in these early sales are very satisfactory and right in line with what our first-hand and online market experience led us to expect,' stated Mr. Jean-Pierre Jutras, P.Geol., the President of Jade Leader. 'Although these first sales are relatively small, they demonstrate interest from influential professional carvers and collectors and we expect this to greatly enhance our ability to successfully continue marketing additional materials.'
ORNAMENTAL JADES UPDATE
Subsequent to Wyoming state regulatory changes allowing for the sale of materials from trenching activities, our recently released video 'Wyoming Ornamental Jades' has helped us establish contacts with stone fabricators and has led to early discussions regarding potential uses of this material as high-end ornamental stone. Meanwhile, the Company continues exploring more traditional markets for figurines and carvings. A detailed photographic inventory of 230 rough ornamental Jade stones totaling approximately 21.4 tonnes (21,410 kilos) has been prepared for distribution to qualified parties as part of these ongoing discussions.
The Company also announces a non-brokered private placement of up to 5 million Units, at a price of $0.05 per Unit, for gross proceeds of CDN$ 250,000. Each Unit consists of one common share and a half common share purchase warrant. Each full common share purchase warrant (a 'Warrant') will entitle the holder to purchase an additional common share at a price of $0.10 per share for a period of two years following closing.
The Units 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. A finder's fee of 5% may be paid to eligible agents upon closing. This financing is subject to TSX Venture approval.
Proceeds of the financing are to be used for working capital, general corporate purposes as well as additional Jade exploration and recovery at the Company's Wyoming Jade projects to increase the Company's marketable Jade inventory on hand.
Mr. Jean-Pierre Jutras, P.Geol., President of the Company, is the Qualified Person for the Company's Jade projects as defined by National Instrument 43-101. Mr. Jutras maintained full chain of custody of sampling material during the testing process and has approved the technical disclosure contained in this news release.
About Jade and Jade Leader Corp.
Recent 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 Corp, 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 experience.
Jade leader is leveraging this unique combination of mineral exploration expertise and jade carving knowledge to build a portfolio of 6 Jade exploration properties on which nephrite jade with various characteristics has now been identified in stable, mining-friendly jurisdictions in the USA.
On Behalf of the Board of Directors,
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.
Or Jean Pierre Jutras, President
SOURCE: Jade Leader Corp.
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