KIRKLAND LAKE, ON, June 11 /CNW/ - RJK Explorations Ltd. (the "Company")
(TSX VENTURE: RJX.A) announces the closing of its previously announced
non-brokered private placement offering of units (the "Offering"). An
aggregate of 6,500,000 units were sold at a price of $0.22 per unit raising
gross proceeds of $1,430,000.
Each unit consists of one class A subordinate voting share of the Company
(a "Share") and one-half of one Share purchase warrant. Each whole Share
purchase warrant entitles the holder thereof to purchase one Share at a price
of $0.27 until June 8, 2008.
In connection with the Offering, the Company paid an aggregate cash
finder's fee of $63,910 to registered dealers and other persons permitted
under applicable securities laws who acted as finders for the Offering and
issued an aggregate of 415,000 non-transferable warrants to such finders. Each
such warrant is exercisable until June 8, 2008 into one Class A subordinate
voting share of the Corporation at a price of $0.22 per share.
The proceeds of this Offering will be used for the exploration and
development of the Company's Goldie Gold Project, Churchill Uranium/Gold
Project, as well as for general working capital purposes.
The securities issued under this Offering are subject to a hold period
expiring on October 9, 2007.
The securities offered have not been registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirements. This press release shall not constitute an offer of
securities for sale in the United States or Canada or the solicitation of an
offer to buy securities in the United States or Canada, nor shall there be any
sale of the securities in any jurisdiction or state in which such offer,
solicitation or sale would be unlawful.
About RJK Explorations Ltd.
RJK Explorations Ltd. is a publicly traded junior exploration company
with uranium, gold and base-metal properties. The company is taking an
aggressive hands-on approach to its current portfolio of projects as well as
acquiring additional exploration projects when the capital and opportunity
The TSX Venture Exchange has not reviewed and does not accept the
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: RJK Explorations Ltd., Glenn Kasner, President,
Telephone: (705) 567-5351, Fax: (705) 567-5557, Mobile: (705) 568-7567,