/NOT FOR DISSEMINATION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES./
SASKATOON, March 22 /CNW/ - JNR Resources Inc. (TSXV:JNN) ("JNR") is
pleased to announce the closing of its brokered private placement (the
"Offering") for gross proceeds totalling $16,366,410, completed through a
syndicate of agents led by Wellington West Capital Markets Inc. and including
Toll Cross Securities Inc. and Versant Partners Inc. (the "Agents"). These
funds were raised through the issue by JNR of 1,780,300 flow-through common
shares ("FT Shares") at a price of $4.70 per FT Share (for gross proceeds of
$8,367,410) and 2,105,000 non flow-through common shares ("NFT Shares") at a
price of $3.80 per NFT Share (for additional gross proceeds of $7,999,000).
A commission of $981,985 was paid by JNR to the Agents as consideration
for arranging the Offering. JNR also issued agents' warrants ("Agents'
Warrants") to the Agents, which entitle the Agents to purchase, in the
aggregate, up to 116,559 common shares of the Company at a price of $3.80 per
share until September 22, 2008.
The securities issued pursuant to the Offering and any shares to be
issued upon the exercise of the Agents' Warrants, are subject to a hold period
expiring July 23, 2007. Completion of the Offering is subject to receipt by
the Company of all necessary regulatory approvals.
JNR is a junior resource company currently engaged in the exploration and
development of mineral properties in the provinces of Saskatchewan and
Newfoundland. JNR has a varied interest in several prospective uranium
properties in the Athabasca Basin of northern Saskatchewan that have been and
will continue to be the focal point of JNR's exploration efforts.
ON BEHALF OF THE BOARD
President & CEO
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THIS NEWS RELEASE.
For further information:
For further information: JNR Resources at (306) 382-2211 or