Dark Streaming/Mobile Old Site Home Products Help Contact Us Your Account System Status
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS
23:04:10 EDT Fri 17 May 2024
Enter Symbol
or Name
USA
CA



Jinhua Capital Corp (3)
Symbol JHC
Shares Issued 17,317,059
Close 2023-10-26 C$ 0.05
Market Cap C$ 865,853
Recent Sedar Documents

Jinhua closes Indigo licence buy for 8.5M shares

2023-10-27 19:14 ET - News Release

Subject: FW: Jinhua News Release - Completion of Indigo Acquisition Word Document File: '\\swfile\EmailIn\20231027 160128 Attachment Jinhua_NR_Completion of Indigo Graphite Acquitition_2023-10-27.docx' 1 THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. JINHUA ANNOUNCES THE COMPLETION OF THE ACQUISTION OF THE INDIGO GRAPHITE MINERAL LICENSES Vancouver, British Columbia - October 27, 2023 - Jinhua Capital Corp. (TSXV: JHC) (the "Company" or "Jinhua") is pleased to announce, further to its news release dated October 6, 2023, the completion of the share exchange agreement (the "Agreement") to acquire (the "Acquisition") 1440843 B.C. Ltd, (the "Vendor) which owns a 100% legal and beneficial interest in the Indigo Graphite Mineral Licenses (the "Indigo Claims"). The Indigo Claims are comprised of 32 mining licenses covering approximately 1,892.5 hectares in the Saint-Michel-des-Saints municipality, Quebec. By way of consideration, the Company will issue 8,500,000 shares at a deemed price of $0.07 per share to the Vendor's shareholders in exchange for 100% of the shares of the Vendor. The Indigo Claims are subject to a 3% NSR in favour of an arm's length party. One-third of the NSR, or 1% can be purchased by the Company for $2,000,000. In addition, in the event that Jinhua commissions a National Instrument 43-101 Technical Report (the "Technical Report") to determine the size of a graphite resource, if any, on the Indigo Claims, an arm's length party will be entitled to cash consideration within 31 calendar days of completion of the Technical Report up to a maximum amount of $6,250,000. For further details, please refer to the Company's news release dated October 6, 2023 and TSX Venture Exchange bulletin issued on October 26, 2023. ON BEHALF OF THE BOARD OF DIRECTORS Jia Qian Chief Executive Officer and Director Forward-Looking Information and Cautionary Statements Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to the anticipated timing of the closing of the Acquisition and the receipt of required approvals. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company's inability to complete the Acquisition on the terms and within the timelines anticipated or at all; and the Company's inability to obtain the required approvals to complete the Acquisition on the proposed terms and timeline or at all. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except 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.

© 2024 Canjex Publishing Ltd. All rights reserved.