Owner
Post by Franko10 ™ on Sept 11, 2004 13:04:48 GMT -5
Closing of Private Placement
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February 2, 2004 -- JNR Resources Inc. (TSX.V: JNN) wishes to announce the closing of its private placement totalling $821,000. These funds were raised by the Company issuing 3,284,000 units at a price of $0.25 per unit, each unit consisting of one common share and one share purchase warrant entitling the holder to purchase one additional common share of the Company at a price of $0.31 for the first year and $0.36 for the second year. The share purchase warrants expire on January 22, 2006. Of the 3,284,000 units issued, 800,000 are flow-through.
Toll Cross Securities Inc., of Toronto, Ontario, received a cash commission $43,470 for arranging the purchase and sale of 2,484,000 of the units. Toll Cross also received 248,400 Agent's Warrants, each warrant entitling Toll Cross to acquire one common share of the Company for a period of two years at a price of $0.31 for the first year and $0.36 for the second year.
The shares, and any shares to be issued upon the exercise of the warrants and the Agent's Warrants, are subject to a hold period expiring May 23, 2004.
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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February 2, 2004 -- JNR Resources Inc. (TSX.V: JNN) wishes to announce the closing of its private placement totalling $821,000. These funds were raised by the Company issuing 3,284,000 units at a price of $0.25 per unit, each unit consisting of one common share and one share purchase warrant entitling the holder to purchase one additional common share of the Company at a price of $0.31 for the first year and $0.36 for the second year. The share purchase warrants expire on January 22, 2006. Of the 3,284,000 units issued, 800,000 are flow-through.
Toll Cross Securities Inc., of Toronto, Ontario, received a cash commission $43,470 for arranging the purchase and sale of 2,484,000 of the units. Toll Cross also received 248,400 Agent's Warrants, each warrant entitling Toll Cross to acquire one common share of the Company for a period of two years at a price of $0.31 for the first year and $0.36 for the second year.
The shares, and any shares to be issued upon the exercise of the warrants and the Agent's Warrants, are subject to a hold period expiring May 23, 2004.
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.
