On October 9, 2024, RJK Explorations Ltd. (TSXV: RJX.A) announced the commencement of a non-brokered private placement to raise aggregate gross proceeds of up to $350,000. The offering will involve the sale of units at a price of $0.035 per unit, with each unit comprising one common share and one warrant. Insiders are expected to subscribe for $130,000 of the offering.
The company intends to utilize the net proceeds from the sale of units for diamond drilling of potential kimberlite, base and precious metal targets (70% of proceeds), as well as for general working capital purposes (30% of proceeds). The offering is subject to customary closing conditions, including approval from the TSX Venture Exchange.
The securities issued under the offering will be subject to a hold period as per applicable securities laws. It is important to note that the securities offered have not been registered under the U.S. Securities Act of 1933 and cannot be offered or sold in the United States without registration or an applicable exemption.
This news release contains forward-looking information regarding the offering, the use of proceeds, and final approval from the TSXV. Forward-looking statements involve risks and uncertainties, and actual results may differ from those expressed or implied in this release. RJK does not undertake to update forward-looking statements unless required by law.
It is important to note that this news release is intended for distribution in Canada only and not for distribution to United States news wire services or dissemination in the United States.
For the source version of this press release, please visit https://www.newsfilecorp.com/release/226162.
