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RJK Announces Closing of Private Placement

by Insidexploration
April 11, 2023
in News Room, RJX, RJX News
0
RJK Announces Closing of Private Placement

Kirkland Lake, Ontario – May 20, 2022 – RJK Explorations Ltd. (TSXV: RJX.A) (OTC Pink: RJKAF) (“RJK” or the “Company”) announces that it has closed a non-brokered private placement offering of units (each, a “Unit“), raising $432,503.17 from the issuance of 3,931,847 Units at a price of $0.11 per Unit (the “Offering“).

Each Unit consists of one Class A Subordinate Voting Share in the capital of the Company (“Common Share“) and one Common Share purchase warrant (“Warrant“). Each Warrant entitles the holder to purchase one Common Share at a price of $0.25 until May 20, 2025. The proceeds will be used for general corporate and working capital purposes.

As part of the Offering, Great Lakes Nickel Limited (“GLN“) subscribed for and funded the purchase of an additional 4,125,516 Units (the “Additional Units“) for proceeds of $453,806.76 (the “Additional Funds“) which Additional Funds are being held in trust pending GLN’s satisfaction of certain requirements of the TSX Venture Exchange (“TSXV“). These requirements include the filing by the control person of GLN of a personal information form, and GLN’s provision of an undertaking to TSXV to not exercise warrants held by it if such exercise would cause GLN’s ownership of Common Shares to exceed 10% of the issued and outstanding Common Shares. Upon GLN satisfying the TSXV’s requirements, the Additional Funds will be released to the Company and the Additional Units will be issued.

All securities issued pursuant to the Offering, are subject to a statutory hold period ending four months and a day from the date of issuance thereof. The Offering remains subject to final acceptance by the TSXV.

The securities offered pursuant to the Offering have not been, nor will they be, registered under the United States Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Contact Information
Glenn Kasner, CEO
Mobile: (705) 568-7567
Email: info@rjkexplorations.com

Web Site: https://www.rjkexplorations.com
Company Information:Tel: (705) 568-7445

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.

Forward Looking Information

This news release includes certain forward-looking statements, which may include, but are not limited to, statements concerning the Offering generally, the proposed use of the proceeds, the Company’s exploration plans, GLN’s ability to satisfy the TSX Venture Exchange requirements and provide the Company with the Additional Funds. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “will”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “propose” and similar expressions. With respect to forward-looking statements and information contained herein, we have made numerous assumptions, including assumptions about the receipt of final acceptance by the TSX Venture Exchange and the state of the equity markets. Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed or implied in this news release. Factors that could cause actual results to differ materially from those anticipated in this news release include, but are not limited to, GLN not satisfying the TSX Venture Exchange’s requirements. RJK assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements except as required by applicable law.

Tags: CobaltDiamondsExplorationGino ChitaroniGlenn KasnerhistoryminingOntariorobert mackaytemiskaming
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The content published on Insidexploration.com is based on current events, historical data, company news releases, sedar filings, technical reports and information provided by the companies we work with. These publications may contain forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.   The publications on Insidexploration.com are for informational and entertainment purposes only and are not a recommendation to buy or sell any security. Always do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions. Please be sure to read company profiles on www.SEDAR.com for important risk disclosures. 

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