sur Jade Leader Corp. (CVE:JADE)
Jade Leader Corp. Announces CDN$50,000 Jade Sale and Reporting Changes
Jade Leader Corp. has completed its first sale of 1,200 pounds of rough Wyoming nephrite jade for CDN$50,000. This jade, extracted in 2019, was sold to a customer producing luxury architectural surfaces. The sale reduces the company's inventory to 20,865 kilos, marking a significant step in expanding its market for architectural jade products.
The sale aligns with Wyoming’s royalty regime, requiring a 12% royalty payment on sales, supporting state projects. Additionally, Jade Leader will shift to semi-annual financial reporting, taking advantage of an exemption allowing venture issuers with less than $10 million in annual revenue to alter their reporting framework.
This strategic move helps streamline operations as the company continues to develop its jade offerings for high-end architectural applications, leveraging unique characteristics of Wyoming nephrite jade for luxury uses.
R. E.
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