Owner
Post by Franko10 ™ on Aug 23, 2005 8:05:35 GMT -5
News Releases - Tuesday, August 23, 2005
PRIVATE PLACEMENT
==============================================
August 23, 2005 - JNR Resources Inc. (TSXV:JNN) announces that
International Uranium Corp. (IUC) has provided JNR notice that they
wish to exercise the balance of their option to earn a 75% interest in
the Moore Lake Property by subscribing for 173,913 units of JNR at a
price of $1.15 per unit. Each unit will consist of one common share
and one share purchase warrant entitling IUC to purchase one additional
common share of JNR at a price of $1.16 for a period of two years.
The closing of the placement is subject to regulatory approval.
Under the terms of the option agreement, IUC was required to spend $4
million in exploration on the Property and invest $400,000 in JNR by
way of private placement over a period of four years commencing October
21, 2003. To date, IUC has met its exploration commitments and $200,000
of its investment commitments. Upon closing of the private placement,
IUC will have earned its 75% interest in the Moore Lake Property.
The private placement proceeds will be used to further exploration on
the Moore Lake Property. JNR and IUC will form a joint venture to
continue the exploration and development of the Property.
ON BEHALF OF THE BOARD
'Rick Kusmirski'
Rick Kusmirski
President & CEO
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
==============================================
Copyright (c) 2005 JNR RESOURCES INC. (JNN-TSXV) All rights reserved.
For more information visit our website at www.jnrresources.com/
or send mailto:info@jnrresources.com
Message sent on Mon Aug 22, 2005 at 8:45:55 PM Pacific Time
==============================================
PRIVATE PLACEMENT
==============================================
August 23, 2005 - JNR Resources Inc. (TSXV:JNN) announces that
International Uranium Corp. (IUC) has provided JNR notice that they
wish to exercise the balance of their option to earn a 75% interest in
the Moore Lake Property by subscribing for 173,913 units of JNR at a
price of $1.15 per unit. Each unit will consist of one common share
and one share purchase warrant entitling IUC to purchase one additional
common share of JNR at a price of $1.16 for a period of two years.
The closing of the placement is subject to regulatory approval.
Under the terms of the option agreement, IUC was required to spend $4
million in exploration on the Property and invest $400,000 in JNR by
way of private placement over a period of four years commencing October
21, 2003. To date, IUC has met its exploration commitments and $200,000
of its investment commitments. Upon closing of the private placement,
IUC will have earned its 75% interest in the Moore Lake Property.
The private placement proceeds will be used to further exploration on
the Moore Lake Property. JNR and IUC will form a joint venture to
continue the exploration and development of the Property.
ON BEHALF OF THE BOARD
'Rick Kusmirski'
Rick Kusmirski
President & CEO
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
==============================================
Copyright (c) 2005 JNR RESOURCES INC. (JNN-TSXV) All rights reserved.
For more information visit our website at www.jnrresources.com/
or send mailto:info@jnrresources.com
Message sent on Mon Aug 22, 2005 at 8:45:55 PM Pacific Time
==============================================
