Although Jourdan Resources Inc (OTCMKTS:JORFF) (TSXV:JOR) had been in the news cycle this past Friday owing to an announcement from the company, the stock did not move much and traded within a range. That being said, stocks which trade within a range can also eventually break out and hence, it may be a good time for investors to take a look at the announcement.
Market Action
On Friday, JORFF stock ended flat at $0.0493 with 12K shares, compared to its average volume of 90K shares. The stock moved within a range of $0.0493 – 0.0493 after opening trade at $0.0493.
Jourdan Makes Final Payment to Acquire Quebec Lithium Property
Jourdan Resources announced on Friday that it had made the final payment in relation to an options agreement that had actually been made effective back on March 1, 2021. The agreement in question was actually related to the acquisition of La Corne lithium property that had been announced by the company previously.
As per the terms of the agreement, Jourdan made the final payment to the tune of as much as C$100,000. The payment had been made through the issuance of as many as 1,111,111 common shares in Jourdan. The deemed price of each share stood at $0.09. In this context, it ought to be noted that up until the final payment, Jourdan had issued as many as 2,611,111 common shares to the La Corne vendors for the purposes of the particular transaction.
 (TSXV:JOR) Stock In Focus After Recent Acquisition){kind=link}