Owner
Post by Franko10 ™ on Sept 11, 2004 12:37:05 GMT -5
Private Placement
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Rick Kusmirski, the President of JNR Resources Ltd. (the "Company"), announces that the Company has negotiated a non-brokered private placement of a total of 1,100,000 units (the "Private Placement Units"), each unit comprised of one flow-through common share and one non-transferable share purchase warrant, in the capital stock of the Company at $0.10 per unit to net the treasury an aggregate of $110,000. One share purchase warrant will entitle the placee to purchase one additional common share of the Company for a period of 24 months from the date of the initial purchase at $0.15 per share. The common shares and any shares issued on the exercise of the share purchase warrants forming a part of the Private Placement Units will be subject to a "hold period" of four months from the date hereof.
The proceeds of the private placement will be expended on further exploration of the JNR Resources Inc. joint venture uranium prospect properties, situated in the Athabasca Basin of Saskatchewan. The proceeds from the exercise of the warrants will provide general working capital.
The private placement transaction is subject to acceptance by the Canadian Venture Exchange and any other regulatory authority having jurisdiction.
On Behalf of the Board of Directors of
JNR RESOURCES INC.
Per:
T. A. (Drew) Parker, Secretary
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release.
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Rick Kusmirski, the President of JNR Resources Ltd. (the "Company"), announces that the Company has negotiated a non-brokered private placement of a total of 1,100,000 units (the "Private Placement Units"), each unit comprised of one flow-through common share and one non-transferable share purchase warrant, in the capital stock of the Company at $0.10 per unit to net the treasury an aggregate of $110,000. One share purchase warrant will entitle the placee to purchase one additional common share of the Company for a period of 24 months from the date of the initial purchase at $0.15 per share. The common shares and any shares issued on the exercise of the share purchase warrants forming a part of the Private Placement Units will be subject to a "hold period" of four months from the date hereof.
The proceeds of the private placement will be expended on further exploration of the JNR Resources Inc. joint venture uranium prospect properties, situated in the Athabasca Basin of Saskatchewan. The proceeds from the exercise of the warrants will provide general working capital.
The private placement transaction is subject to acceptance by the Canadian Venture Exchange and any other regulatory authority having jurisdiction.
On Behalf of the Board of Directors of
JNR RESOURCES INC.
Per:
T. A. (Drew) Parker, Secretary
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release.
