July 27, 2020
Edmonton, AB-July 27, 2020- Jaeger Resources Corp. (the “Company”) (TSXV:JAEG) is pleased to announce that the Company has entered into agreements with certain vendors and officers of the company who have agreed to accept shares of Jaeger Resources Corp. in final settlement of amounts owed by the Company. The aggregate amount of trade payables, fees and expenses settled with creditors is $261,992.67, which at a deemed issue price of $0.04 per share represents the issuance of 6,549,817 common shares of the Company. The issuance of the shares is subject to compliance with applicable securities laws and approval of the TSX Venture Exchange. The shares will be subject to a hold period of four months.
These transactions were all done in support of the Company’s efforts to direct resources to corporate targets and preserve working capital in efforts to expedite exploration of the Taylor Brook Project.
About Jaeger Resources Corp.
Jaeger Resources Corp. is a Junior Canadian Exploration Company focused on evaluating high potential, undervalued mineral properties for acquisition, which can be developed to give investors an attractive return on investment. Jaeger has entered into an agreement with Stratabound Minerals Corp. to explore and develop the Taylor Brook zinc – lead – copper – silver deposit in the Bathurst Mining Camp, New Brunswick, Canada.
For further Company and technical information, please visit the Company’s website at www.jaegerresources.com.
On Behalf of the Board
For further information please contact:
Don Bossert, CFO (780) 465-4129
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 the accuracy of this press release. We seek Safe Harbor.
Not for release in the United States.
Notice Regarding Forward-Looking Statements
This news release contains “forward-looking statements”. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding the Debt Settlement.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.