RJK Explorations Announces Shares for Debt Agreement


KIRKLAND LAKE, ON, June 16 /CNW/ - RJK Explorations Ltd. (RJX.A: TSXV) ("RJK") is pleased to announce that it has reached an agreement with a company which is wholly-owned by a director and officer of RJK (the "Creditor") to settle debt in the aggregate amount of approximately $166,941 for management fees in connection with services previously rendered to RJK (the "Debt"). The Creditor has agreed to settle the Debt in exchange for the issuance of Class A subordinate shares in the capital of RJK ("Class A Shares") at a price of $0.05 per Class A Share, for an aggregate issuance of 3,338,817 Class A Shares.

The completion of the shares for debt settlement is subject to the approval of the TSX Venture Exchange.

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.

Web Site: http://www.rjkexplorations.com

SOURCE RJK Explorations Ltd.

For further information: For further information: Glenn Kasner, President and Chief Executive Officer, Telephone: (705) 567-5351, Fax: (705) 567-5557, Mobile: (705) 568-7567, E-Mail: kasner1@ntl.aibn.com

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RJK Explorations Ltd.

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