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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 h...
About this update from Rjk Explorations Ltd. Class A
[{"type":"text","content":"\n\n\n\nKIRKLAND LAKE, ON, April 17 /CNW/ - RJK Explorations Ltd. (RJX.A: TSXV)\n("RJK") reports that it has completed a non-brokered private placement (the\n"Offering") for gross proceeds of $200,000 through the sale of 4,000,000 units\nat $0.05 per unit to the MineralFields Group. Each unit consists of one class\nA subordinate voting share of the Company (a "Share") and one Share purchase\nwarrant, each such Share and Share purchase warrant issued on a flow-through\nbasis pursuant to the Income Tax Act (Canada). Each whole Share purchase\nwarrant entitles the holder thereof to purchase one Share at a price of $0.10\nuntil April 16, 2010 and thereafter at a price of $0.20 until April 16, 2011.\n\n\nIn connection with the Offering, the Company paid an aggregate cash\nfinder's fee of $2,000 and issued an aggregate of 160,000 units (the "Finders\nUnits") and 400,000 non-transferable options (the "Finders Options") to\nLimited Market Dealer Inc. Each Finder Unit consists of one Share and one\nnon-transferable Share purchase warrant. Each whole Share purchase warrant\nentitles the holder thereof to purchase one Share at a price of $0.10 until\nApril 16, 2010 and thereafter at a price of $0.20 until April 16, 2011. Each\nFinders Option is exercisable until April 16, 2011 into one Finders Unit a\nprice of $0.05 per Finders Unit.\n\n\nThe proceeds of this Offering will be used for the exploration and\ndevelopment of the Company's Dorion Property located in Ontario. The\nsecurities issued under this Offering are subject to a hold period expiring on\nAugust 18, 2009. RJK has posted to its website the Airborne Total Field\nMagnetic map to the Dorion South Property. Results of the recently completed\nVTEM survey are expected shortly.\n\n\nAbout MineralFields and Pathway and First Canadian Securities\n\n\nMineralFields Group (a division of Pathway Asset Management), based in\nToronto and Vancouver, is a mining fund with significant assets under\nadministration that offers its tax-advantaged super flow-through limited\npartnerships to investors throughout Canada as well as hard-dollar resource\nlimited partnerships to investors throughout the world. Pathway Asset\nManagement also specializes in the manufacturing and distribution of\nstructured products and mutual funds (including the Pathway ...