JNR Resources Inc. Announces Closing of Private Placement
04.05.2012 | CNW
SASKATOON, May 4, 2012 - JNR Resources Inc. (TSXV: JNN) ('JNR' or the 'Company') is pleased to announce the closing of its private placement totalling $825,000. These funds were raised through the issue by JNR of 6,500,000 units at a price of $0.10 per unit. Each unit will consist of one common share and one-half of one common share purchase warrant. Each full warrant is exercisable for eighteen months from closing into one common share at $0.15 per share. In addition 1,750,000 flow-through shares were issued at a price of $0.10 per share.A commission of $48,000 and 480,000 broker warrants entitling the holder to acquire one common share at an exercise price of $0.15 for a period of 18 months from the date of issuance was paid to Toll Cross Securities Inc. as consideration for arranging a portion of the private placement.
The shares issued pursuant to the Private Placement are subject to a hold period expiring September 2, 2012.
The funds raised by way of the private placement will be used for exploration programs on JNR's properties located in northern Saskatchewan.
JNR is a junior resource company currently engaged in the exploration and development of mineral properties in the provinces of Saskatchewan and Newfoundland. JNR has a varied interest in several prospective uranium properties in the Athabasca Basin of northern Saskatchewan that have been and will continue to be the focal point of JNR's exploration efforts.
ON BEHALF OF THE BOARD
Rick Kusmirski
President & CEO
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.
NOT FOR DISSEMINATION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
For further information:
JNR Resources
306.382.2211 or 877.567.6463
Email: info@jnrresources.com
Website: www.jnrresources.com