KIRKLAND LAKE, ON, June 13, 2013 /CNW/ - RJK Explorations Ltd. (TSX Venture: RJX.A) ("RJK" or the "Company") is announcing a non-brokered hard dollar private placement of up to 4,000,000 units of securities (each, a "Unit") at a price of $0.05 per Unit for aggregate gross proceeds of up to approximately $200,000 and up to 7,000,000 "flow-through" units of securities (each a "Unit") at a price of $0.07 for aggregate gross proceeds of up to approximately $490,000.
Each Unit will be comprised of one Class A subordinate voting share of the Company (each, a "Share") and one-half of one warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one Share at a price of $0.10 for a 12-month period.
The proceeds raised from the issuance of the Units are expected to be used to fund the Company's Blackwater Project located in central BC and for general corporate purposes. It is anticipated that closing of the private placement will take place on or before July 03, 2013.
Forward Looking Statements: includes statements contained in this news release regarding discussions in respect of a potential acquisition and funding arrangement and RJK's expectations regarding same and the trading of its shares on the TSX Venture Exchange. This forward-looking information reflects the current expectations or beliefs of RJK based on information currently available to it. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of RJK to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, RJK. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to: the failure of RJK to enter into an agreement in respect of such arrangement; delays in obtaining or failure to obtain any required regulatory and/or shareholder approval; and other factors. Any forward-looking information speaks only as of the date on which it is made. Although RJK believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: RJK Explorations Ltd.
For further information:
Glenn Kasner, President
Telephone: (705) 567-5351
Mobile: (705) 568-7567