KIRKLAND LAKE, ON, May 14 /CNW/ - RJK Explorations Ltd. (RJX.A: TSXV) ("RJK") announces that it has closed:
- a previously announced non-brokered private placement (the "Offering") for aggregate gross proceeds of $155,000 through the sale of 3,100,000 units at a price of $0.05 per unit. Each unit consists of one Class A subordinate voting share and one whole warrant with each whole warrant entitling the holder thereof to acquire one Class A subordinate voting share of the corporation at a price of $0.10 within 18 months of the closing date; and - a non-brokered private placement (the "Flow-Through Offering") for gross proceeds of $130,000 through the sale of 2,600,000 units at a price of $0.05 per unit. Each unit consists of one Class A subordinate voting share and one whole warrant with each whole warrant entitling the holder thereof to acquire one Class A subordinate voting share of the corporation at a price of $0.10 within 24 months of the closing date.
The securities issued under the Offering and Flow-Through Offering are subject to hold periods expiring on September 15, 2009. The proceeds will be used for general working capital and to advance the Company's Dorion South Platinum/Palladium/Cu/Ni property at Thunder Bay North.
In connection with the Offering and Flow-Through Offering, RJK paid aggregate cash finders' fees equal to 10% of the gross proceeds raised.
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