RJK Explorations Limited: $200,000 Private Placement
19.03.2015 | Newsfile
Kirkland Lake, March 19, 2015 - RJK Explorations Limited (TSXV: RJX.A) (the "Company") announces that it proposes, subject to the acceptance of the TSX Venture Exchange, to undertake a private placement to raise up to $200,000 by the issuance of up to 20,000,000 class A Subordinate Voting Shares at a price of $0.01 per share.The offering is also being made in accordance with provisions of the existing shareholder exemption (the "Existing Shareholder Exemption") contained in multilateral CSA Notice 45-313 and BC instrument 45-354 and various other corresponding blanket orders and rules of participating jurisdictions (the existing shareholder exemption is not available in Newfoundland or Labrador).
The maximum number of shares offered is 20,000,000 for gross proceeds of $200,000. If total subscriptions for shares under the private placement exceed the maximum number of shares to be sold, the Company may increase the size of the private placement or subscriptions may otherwise be accepted on a first come-come, first-serve basis. The offering is subject to a minimum $1,000 subscription. The aggregate to a subscriber under the Existing Shareholder Exemption cannot exceed $15,000 (1,500,000 shares) unless the subscriber is an "Accredited Investor" or has obtained advice from a registered investment dealer regarding the suitability of the investment. The Company urges any interested existing shareholders to contact the Company.
In addition to conducting the Offering pursuant to the Existing Shareholder Exemption, the Offering will also be conducted with sales to personal friends, business associates and directors and officers of the Company.
The Company has set March 16, 2015 as the record date for the purpose of determining existing shareholders entitled to purchase securities under the offering.
Proceeds of the offering will be used to pay legal, audit, mailing and annual meeting fees estimated at $40,000, outstanding accounts payable of $12,000, payout an arm's length loan of $52,000 with the balance to be used for general working capital. All shares pursuant to the private placement will be subject to a four-month hold period. The Company may pay finder's fees in connection with a portion of the private placement.
About RJK Explorations Ltd.
The Company holds a 100% interest in 17,472 hectares in the prolific Blackwater Camp, BC adjoining New Gold Inc.'s multi-million ounce gold and silver deposit.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
RJK Explorations Ltd.
Glenn Kasner, President
Telephone: (705) 567-5351
Mobile: (705) 568-7567
kasner1@ntl.aibn.com