Mr. Rick Kusmirski reports
JNR ANNOUNCES CLOSING OF PRIVATE PLACEMENT
JNR Resources Inc. has closed its private placement totalling $2.81-million. These finances were raised through the issue by JNR of 5.62 million flow-through units at a price of 50 cents per share. Each flow-through unit comprises one common share and one-half of one common share purchase warrant. Each whole flow-through warrant will entitle the holder to acquire one common share at an exercise price of 65 cents for a period of 18 months from the date of issuance.
A commission of $137,500 and 275,000 broker warrants entitling the holder to acquire one common share at an exercise price of 65 cents 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 July 11, 2011.
The finances raised by way of the private placement will be used for exploration programs on JNR's properties located in Northern Saskatchewan.
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