Kirkland Lake, Ontario–(Newsfile Corp. – November 13, 2019) – RJK Explorations Ltd. (TSXV: RJX.A) (OTC: RJKAF) (“RJK” or “the Company”) has added Peter Hubacheck P.Geo, Gary Grabowski P.Geo, Martin Ethier, and Jim Mackay to its Board of Advisors.
Peter Hubacheck brings years of diamond exploration experience to RJK. Most notably, he was responsible for a proprietary ranking system that was employed for target selection and ground truthing, resulting in the discovery of four kimberlite pipes in 1995 and 1996, including diamondiferous pipes 95-2 and 96-1, in the Temiskaming region.
Gary Grabowski was District Geologist for the Ministry of Northern Development and Mines’ Resident Geologist Program (RGP) in Kirkland Lake for more than 35 years. He was a part of the 80s kimberlite discoveries in the region with Lac Minerals and Monopros Ltd. and assisted Chuck Fipke in his GSC report.
Martin Ethier has contributed in the discoveries of numerous Kimberlites (pipes and dykes) in the NE Ontario-NW Quebec corridor. He had previously worked on the Lapointe Kimberlite Pipe, conducting data integration-till sampling, discovery drilling and large diameter sampling.
Jim Mackay ran successful businesses in the Mining Industry for 28 years before he retired in 2011. A graduate of the Haileybury School of Mines, Jim always remembered his Geology Professor, Dan Atchison, challenging him and other graduates to one day find the source of the 800 Carat Nipissing Diamond. Jim joins the team in an effort to fulfill Atchison’s wish.
RJK has a new website, www.rjkexplorations.com, created by SMB Master. The Company has created an Interactive Property Map and an Interactive Nipissing Diamond Timeline to help new investors understand how RJK is working towards its goal of discovering diamonds. Each presentation will be updated as exploration progress is made. Also, with the help of Insidexploration, the company has begun to create videos discussing various aspects of its exploration work. (links at the bottom of the page)
The Company also announces a proposed non-brokered private placement (the “Offering”) of up to 8,000,000 units (the “Units”) at a price of $0.125 per Unit for gross proceeds of up to $1,000,000, and a concurrent non-brokered private placement (the “FT Offering’) of up to 1,200,000 flow-through units (“FT Units”) at a price of $0.125 per FT Unit for gross proceeds of up to $150,000.
Each
Unit will consist of one convertible Series 1 Class C Preference Share
(a “Royalty Share”), and one share purchase warrant (a “Warrant”)
exercisable for one Class A Subordinate Voting Share of the Company (a
“Class A Share”). Amongst other features, each Royalty Share shall be a
voting share and, after 4 years from the closing of the Offering, shall
be convertible into one Class A Share, on and subject to the terms and
conditions of the Royalty Shares. Each FT Unit will consist of one
flow-through Class A Share (an “FT Share”) and one Warrant.
Each
Warrant will entitle the holder to acquire one Class A Share at an
exercise price of $0.20 for up to 12 months following the date of
closing of the Offering (The “Closing Date). The term of the Warrants
may be accelerated in the event that the issuer’s shares trade at or
above a price of $0.25 cents per share for a period of 10 consecutive
days. In such case of accelerated Warrants, the Company may give notice,
in writing or by way of news release, to the subscribers that the
Warrants will expire 60 days from the date of providing such notice.
In
addition, conditional upon (i) the filing by the Company of a
feasibility study on the Company’s Bishop Claims, and (ii) the
repurchase by the Company of 2.5% of a gross overriding royalty (“GORR”)
currently outstanding on the Bishop Claim (the “Option Conditions”),
each purchaser of Units shall have an option to purchase their pro rata
share of a 2.5% GORR on the Bishop Claims (the “Royalty Option”) for
aggregate consideration of $2.5 million to the Company. The Royalty
Option must be exercised in full by holders of Royalty Shares following
satisfaction of the Option Conditions, otherwise the Royalty Option will
terminate. The Royalty Option will be subject to the terms of an
agreement to be entered into between the Company and the holders of
Royalty Shares.
The proceeds will be used for diamond exploration in the Cobalt area as well as general corporate purposes.
I am a 3rd generation miner who was born and raised in the silver capital of Canada, Cobalt, Ontario. For the last 10 years I have been invested in the mining sector and as a retail investor found it difficult gathering information on companies of interest. For this reason we created Insidexploration.com as a means to share our due diligence with investors all around the world.
Disclosure
The thoughts and opinions expressed in my articles and research reports are my own and do not represent those of the companies I write about. I often buy and sell the stocks I write about and may do so at any point in time without warning.
Disclaimer
My articles and research reports should not be considered a solicitation to purchase or sell securities or a recommendation to buy or sell securities. The information provided is derived from sources believed to be accurate, but cannot be guaranteed. I do not take into account the particular investment objectives, financial situations, or needs of individual recipients and other issues (e.g. prohibitions to investments due to law, jurisdiction issues, etc.) which may exist for certain persons. I am not a registered financial advisors and one should always do your own due diligence and consult a licensed investment adviser prior to making any investment decisions. Always reference www.SEDAR.com for important risk disclosures.
Vance White the President & CEO of @NobleMineral and exploration manager Holmstead discuss the exploration strategies for early 2022 and discuss the various acquisitions they made in 2021
A few months ago we spoke with the President and CEO of @ExplorationPuma, Marcel Robillard to discuss the advancement of the Williams Brook Gold Project over the last year.
PUMA should be on the short list of companies to watch!
Global #battery and #minerals supply chains need to expand ten-fold to meet projected #criticalminerals needs by 2030 according to a report published by the International Energy Agency.
Canada Nickel is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless steel markets.
$CNC.V #Nickel #Timmins #EV #NetZero
For more information, please visit
https://canadanickel.com/
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok