06:28:45 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



JNR Resources Inc
Symbol JNN
Shares Issued 114,910,234
Close 2012-11-05 C$ 0.055
Market Cap C$ 6,320,063
Recent Sedar Documents

JNR Resources arranges $3-million private placement

2012-11-05 18:46 ET - News Release

Mr. Rick Kusmirski reports

JNR ANNOUNCES $3.0 MILLION FINANCING

JNR Resources Inc. has entered into an agreement with Toll Cross Securities Inc. to complete a private placement financing, on a commercially reasonable efforts agency basis, for the issuance of up to 34,615,384 flow-through common shares at a price of 6.5 cents per flow-through share for gross proceeds of approximately $2.25-million and 13,636,364 units at 5.5 cents per unit for gross proceeds of $750,000. Each unit will consist of one common share and one-half of one common share purchase warrant. Each full warrant is exercisable for 18 months from closing into one common share at 10 cents per share. In addition, the agent has been granted the option to sell an equivalent dollar value of units in lieu of flow-through shares and can increase the size of the offering by approximately $450,000 (15 per cent).

JNR will ensure that gross proceeds from the sale of the flow-through shares will be used to incur Canadian exploration expenses for the purposes of the Income Tax Act (Canada). The net proceeds from the sale of the units will be used to finance exploration efforts on JNR's properties and for general working capital purposes. All securities issued in connection with the offering will be subject to a four-month hold period. The offering is scheduled to close on or about Nov. 23, 2012, and is subject to regulatory approval.

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