Jo-Jo Capital Signs Letter of Intent With Placements Appalache Limitée to Acquire Up to a 100% Interest in the Baie-Johan-Beetz Project

Core Viewpoint - Jo-Jo Capital Canada Ltd. has entered into a non-binding letter of intent with Placements Appalache Limitée to pursue a business combination transaction, which is expected to result in PAL shareholders holding a majority of Jo-Jo's voting securities [1][2]. Company Overview - Jo-Jo Capital Canada Ltd. is a capital pool company focused on identifying and evaluating qualifying transactions under the policies of the TSX Venture Exchange [13]. - Placements Appalache Limitée has over 50 years of experience in the Canadian silica mining industry and holds exclusive mining rights to high-purity quartz deposits in Baie-Johan-Beetz, Quebec [3][12]. Transaction Details - The transaction will be structured as a reverse takeover, with PAL shareholders exchanging their securities for those of Jo-Jo [5]. - The transaction is anticipated to be completed through an amalgamation, plan of arrangement, or share exchange, subject to regulatory approvals [5][8]. - A private placement financing by PAL is expected to raise between C$3,000,000 and C$6,000,000 prior to or concurrent with the closing of the transaction [5]. Mining Rights and Resources - PAL's high-purity silica deposit spans 54.22 hectares and is located less than 800 meters from the main road, with additional unexplored claims of 383.24 hectares [3]. - High-purity silica is designated as a critical mineral in Canada and is essential for various advanced technologies, including solar panels and semiconductors [4]. Regulatory and Approval Process - Completion of the transaction is subject to conditions including Exchange acceptance, shareholder approval, and satisfactory due diligence investigations [8][10]. - Jo-Jo is required to maintain a minimum bank account balance of $100,000 at closing and may need to retain a sponsor for the transaction [10]. Future Structure - Following the transaction, the board of directors of the resulting issuer will initially consist of three to five directors appointed by PAL [10].