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RJK Explorations Announces Closing of Previously Announced Non-Brokered Private Placement
Kirkland Lake, Ontario--(Newsfile Corp. - July 7, 2020) - RJK Explorations Ltd. ( TSXV: RJX.A ...
About this update from Rjk Explorations Ltd. Class A
[{"type":"text","content":"RJK Explorations Announces Closing of Previously Announced Non-Brokered Private PlacementKirkland Lake, Ontario--(Newsfile Corp. - July 7, 2020) - RJK Explorations Ltd. (TSXV: RJX.A) (\"RJK\" or the \"Company\"), further to its press releases dated June 5 and 17, 2020, it has closed the non-brokered private placement offering of units (\"Units\") and flow-through units (\"FT Shares\"). Pursuant to this closing, the Company raised a total of $600,000 for the issuance of 3,600,000 Units of the Company at a price of $0.15 per Unit and 300,000 FT Shares at a price of $0.20 per FT Share (the \"Offering\").Each HD Unit consists of one common share of the Company (a \"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 for a period of one year from the closing date of the Offering. The FT Shares will qualify as \"flow-through shares\" (within the meaning of the Income Tax Act (Canada)). The gross proceeds from the sale of the FT Shares will be used to incur qualifying Canadian Exploration Expenses. Qualifying expenses are to be incurred by no later than December 31, 2021 for renunciation to investors of FT Shares in the Offering effective December 31, 2020. The balance of the proceeds of the Offering will be used for general corporate and working capital purposes.In connection with the Offering, the Company paid a finder's fee to National Bank Financial, an arm's length finder, consisting of $4,000 in cash and an aggregate of 20,000 non-transferrable warrants (\"Broker Warrants\"). Each Broker Warrant issued under the Offering entitles the holder to purchase one Common Share at a price of $0.20 for a period of one year from the closing date of the Offering. All securities issued pursuant to the Offering are subject to a statutory hold period ending November 8, 2020. The Offering remains subject to final acceptance by the TSX Venture Exchange.The securities offered pursuant to the Offering have not been, nor will they be, registered under the United States Securities 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 ...