Owner
Post by Franko10 ™ on Sept 11, 2004 13:07:10 GMT -5
Private Placement Closed
--------------------------------------------------------------------------------
April 15, 2004 - JNR Resources Inc. (TSX.V: JNN) announces that its private placement announced on March 19, 2004 has closed, and the Company has received the net subscription proceeds from the sale of 5,000,000 shares at $0.50 per share. All of the shares are subject to resale restrictions expiring August 8, 2004.
Toll Cross Securities Inc., of Toronto, Ontario, which acted as the Company's exclusive agent for the Offering, received a cash commission equal to 5% of the aggregate gross proceeds of the Offering, ($125,000) together with its expenses.
A portion of the net proceeds of this private placement will be used towards exploration on the Company's uranium properties located in Saskatchewan, and potential acquisition and exploration of one or more additional uranium properties, as currently under review. The balance of the net proceeds will be used for general working capital purposes.
ON BEHALF OF THE BOARD
"Rick Kusmirski"
Rick Kusmirski,
President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
--------------------------------------------------------------------------------
April 15, 2004 - JNR Resources Inc. (TSX.V: JNN) announces that its private placement announced on March 19, 2004 has closed, and the Company has received the net subscription proceeds from the sale of 5,000,000 shares at $0.50 per share. All of the shares are subject to resale restrictions expiring August 8, 2004.
Toll Cross Securities Inc., of Toronto, Ontario, which acted as the Company's exclusive agent for the Offering, received a cash commission equal to 5% of the aggregate gross proceeds of the Offering, ($125,000) together with its expenses.
A portion of the net proceeds of this private placement will be used towards exploration on the Company's uranium properties located in Saskatchewan, and potential acquisition and exploration of one or more additional uranium properties, as currently under review. The balance of the net proceeds will be used for general working capital purposes.
ON BEHALF OF THE BOARD
"Rick Kusmirski"
Rick Kusmirski,
President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
