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Post by Franko10 ™ on Sept 11, 2004 13:02:34 GMT -5
Private Placement
-------------------------------------------------------------------------------- January 20, 2004 -- JNR Resources Inc. (TSX.V: JNN) wishes to announce the closing of its private placement totalling $500,000. These funds were raised by the Company issuing 5,000,000 units at a price of $0.10 per unit, each unit consisting of one common share and one share purchase warrant entitle the holder to purchase one additional common share of the Company at a price of $0.15 until January 5, 2006.
The shares, and any shares to be issued upon the exercise of the warrants, are subject to a hold period expiring May 6, 2004.
In addition, as a follow-up to its news release dated December 11, 2003, the Company announces that it will not be proceeding with the consolidation of its issued and authorized share capital on a 5:1 basis and change of name.
ON BEHALF OF THE BOARD
Rick Kusmirski, President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
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