RJK Explorations Closes Financing with MineralFields Group for Dorion South Platinum-Palladium Project, Thunder Bay

    KIRKLAND LAKE, ON, April 17 /CNW/ - RJK Explorations Ltd. (RJX.A: TSXV)
("RJK") reports that it has completed a non-brokered private placement (the
"Offering") for gross proceeds of $200,000 through the sale of 4,000,000 units
at $0.05 per unit to the MineralFields Group. Each unit consists of one class
A subordinate voting share of the Company (a "Share") and one Share purchase
warrant, each such Share and Share purchase warrant issued on a flow-through
basis pursuant to the Income Tax Act (Canada). Each whole Share purchase
warrant entitles the holder thereof to purchase one Share at a price of $0.10
until April 16, 2010 and thereafter at a price of $0.20 until April 16, 2011.
    In connection with the Offering, the Company paid an aggregate cash
finder's fee of $2,000 and issued an aggregate of 160,000 units (the "Finders
Units") and 400,000 non-transferable options (the "Finders Options") to
Limited Market Dealer Inc. Each Finder Unit consists of one Share and one
non-transferable Share purchase warrant. Each whole Share purchase warrant
entitles the holder thereof to purchase one Share at a price of $0.10 until
April 16, 2010 and thereafter at a price of $0.20 until April 16, 2011. Each
Finders Option is exercisable until April 16, 2011 into one Finders Unit a
price of $0.05 per Finders Unit.
    The proceeds of this Offering will be used for the exploration and
development of the Company's Dorion Property located in Ontario. The
securities issued under this Offering are subject to a hold period expiring on
August 18, 2009. RJK has posted to its website the Airborne Total Field
Magnetic map to the Dorion South Property. Results of the recently completed
VTEM survey are expected shortly.

    About MineralFields and Pathway and First Canadian Securities

    MineralFields Group (a division of Pathway Asset Management), based in
Toronto and Vancouver, is a mining fund with significant assets under
administration that offers its tax-advantaged super flow-through limited
partnerships to investors throughout Canada as well as hard-dollar resource
limited partnerships to investors throughout the world. Pathway Asset
Management also specializes in the manufacturing and distribution of
structured products and mutual funds (including the Pathway Multi Series Funds
Inc. corporate-class mutual fund series). Information about MineralFields
Group is available at www.mineralfields.com. First Canadian Securities (R) is
active in leading resource financings (both flow-through and hard dollar PIPE
financings) on competitive, effective and service-friendly terms, and offers
investment banking, mergers and acquisitions, and mining industry consulting,
services to resource companies. MineralFields and Pathway have financed
several hundred mining and oil and gas exploration companies to date through
First Canadian Securities.

    Neither the TSX Venture Exchange nor its Regulation Services Provider
    accepts responsibility for the adequacy or accuracy of this release.

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

For further information:

For further information: Glenn Kasner, President, Telephone: (705)
567-5351, E-Mail: kasner1@ntl.aibn.com; James Hitchie, Advisor, Email:

Organization Profile

RJK Explorations Ltd.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890