CloudyHead 0 #1 November 1, 2011 I've had this penny stock for awhile now as it was given to me (2500 shares), and I'm trying to make sense of this news release. I don't see anywhere that my JOR shares will be swapped for "Gimus"shares. Instead, it looks like they would just be given to me on top of what i already have. Or is this wishful thinking? lol. News Releases << Previous | Next >> Jourdan Transfer Its Uranium Assets to Gimus Resources Inc. and Completes $370,000 Financing for New Subsidiary Jourdan Transfer Its Uranium Assets to Gimus Resources Inc. and Completes $370,000 Financing for New Subsidiary MONTREAL, CANADA--(Marketwire - Oct. 24, 2011) - JOURDAN RESOURCES INC. (TSX VENTURE:JOR) ("Jourdan" or the "Company") announces that it has entered into an acquisition agreement (the "Agreement") with its subsidiary, Gimus Resources Inc. ("Gimus"). The Agreement concerns the transfer, as previously announced, of the Johann-Beetz property in exchange for 3,000,000 common shares of Gimus at a deemed price of $0.10 per share ($300,000). The $300,000 sales price represents approximately half the book value, of these assets as of the date of the closing. The Company intends to distribute to its shareholders, after the closing of Gimus' IPO, all of the 3,000,000 common shares received from the sale of the Johann-Beetz property. Following the closing of the Agreement, Jourdan retains its core rare metals and high technology metals assets. Jourdan is also please to report that it has completed a private placement (the "Offering") for its subsidiary, Gimus, of 3,700,000 common shares at a price of $0.10 per share for aggregate proceeds of $370,000. Insiders of Jourdan purchased, directly or indirectly, approximately $95,000 of the Offering. The net proceeds of the Offering will be used to prepare Gimus' IPO in the context of the previously announced spin out transaction and for working capital purposes. Following completion of the Offering, Jourdan retains a 45% interest in Gimus. Gimus intends to file within the following weeks, its preliminary prospectus. The public offering will involve a minimum offering of $300,000 with a syndicate of agents led by Jones Gable & Company Limited (collectively, the "Agents"). The Agents are to act on a commercially reasonable effort basis for this offering. Details of the offering will be released on filing of the preliminary prospectus. About Jourdan Resources Inc. Jourdan Resources Inc. is a Canadian junior mining exploration company trading under the symbol JOR on the TSX Venture Exchange. The Company is focused on the acquisition, exploration, production, and development of mining properties in phosphates and Rare Metals or High Technology Metals ("HTM's") sectors of eastern Canada. The Company's properties are currently at the exploration stage and are located along the North Shore, the Mauricie, the Abitibi and James Bay regions of Quebec. Please visit the Company's website at www.jourdan.ca. Statements in this release that are not historic facts are "forward-looking statements" and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these "forward-looking statements. 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. Marketwire Canada October 24, 2011 - 7:30 AM EDT Quote Share this post Link to post Share on other sites
cartoon_anvil 0 #2 November 2, 2011 The doesn't mean that you will be in possession of Gimus stock. It means that the company you own stock in will. The Gimus stock is still a financial instrument that is held by "your" company. How this affects YOU is a matter of the nature of the securities that were purchased. Do YOUR OWN due diligence. Is this company a net asset, or liability? Even OTC companies must publish their financials. Do your footwork and decide for yourself whether this was a good move and trade accordingly. One thing to be wary of with penny stocks, is that a lot of times these outfits will acquire a bunch of fledgling companies to show more assets on the books. The idea is that they try to purvey confidence to the investors that they will be in a better position to leverage the acquired assets than the previous holders to try to drive the price up, then the executives dump it, because they don't really have a tangible business plan. Do your footwork and find out wtf is going on with your money instead of asking random motherfuckers on the internet what you should do. Every single one of us is, of course, smarter than every single whuffo, but that doesn't mean that any of us are smart enough to make your financial decisions for you :P Quote Share this post Link to post Share on other sites
CloudyHead 0 #3 November 2, 2011 "The Company intends to distribute to its shareholders, after the closing of Gimus' IPO, all of the 3,000,000 common shares received from the sale of the Johann-Beetz property. " If what you say is true, what does this part mean?? Quote Share this post Link to post Share on other sites
