Owner
Post by Franko10 ™ on Oct 12, 2004 11:02:00 GMT -5
VANCOUVER, B.C.--(BUSINESS WIRE)--Dec. 21, 1995--JNR RESOURCES INC. (VSE:JNN) Mr. Dale W. Hoffman, president of JNR Resources Inc. (the "Company"), wishes to report that the Company has negotiated, subject to regulatory acceptance, a $300,000 private placement, to consist of 600,000 units at a price of $0.50 per unit, each unit to consist of one flow-through common share and one share purchase warrant, each warrant entitling the holder to purchase an additional flow-through or ordinary common share for a period of two years, at $0.50 in the first year and at $0.58 in the second year.
The proceeds will be utilized to finance continued exploration of the northeastern Ontario diamond project properties in which the Company has the right to earn a 50 percent interest pursuant to the August 15, 1995 option agreement with Consolidated Pine Channel Gold Corp..
MANAGEMENT AGREEMENT
Also, the Company has entered into a management agreement with D. W. Ventures Inc. whereby, in consideration of a management fee of $2,500 per month, D. W. Ventures Inc. will provide day to day operational management services to the Company effective January 1, 1996. D. W. Ventures Inc. is a private company which is wholly owned by Dale W. Hoffman, the president and a director of JNR Resources Inc.. -0- JNR RESOURCES INC. Per: Dale W. Hoffman, President -0- NOTE TO EDITORS: The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of the content of this News Release.
CONTACT: Dale W. Hoffman, President
604/687-2144
or
604/684-5118
604/682-8566 (Fax)
COPYRIGHT 1995 Business Wire
COPYRIGHT 2004 Gale Group
The proceeds will be utilized to finance continued exploration of the northeastern Ontario diamond project properties in which the Company has the right to earn a 50 percent interest pursuant to the August 15, 1995 option agreement with Consolidated Pine Channel Gold Corp..
MANAGEMENT AGREEMENT
Also, the Company has entered into a management agreement with D. W. Ventures Inc. whereby, in consideration of a management fee of $2,500 per month, D. W. Ventures Inc. will provide day to day operational management services to the Company effective January 1, 1996. D. W. Ventures Inc. is a private company which is wholly owned by Dale W. Hoffman, the president and a director of JNR Resources Inc.. -0- JNR RESOURCES INC. Per: Dale W. Hoffman, President -0- NOTE TO EDITORS: The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of the content of this News Release.
CONTACT: Dale W. Hoffman, President
604/687-2144
or
604/684-5118
604/682-8566 (Fax)
COPYRIGHT 1995 Business Wire
COPYRIGHT 2004 Gale Group
