JNR Resources Inc. Increases Private Placement
21.04.2012 | CNW
SASKATOON, April 20, 2012 - Mr. Richard Kusmirski, President of JNR Resources Inc. (TSXV: JNN) ('JNR' or the 'Company') announces that due to strong demand, the Company has agreed to increase the non-brokered private placement announced on April 17, 2012 from $600,000 to $775,000. These funds will be raised by the Company issuing a total of 6,000,000 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 will be issued at a price of $0.10 per share.Commissions will be payable in connection with the private placement, in accordance with TSX Venture Exchange policies. Additionally, finders warrants exercisable into common shares of JNR may be issued in an amount up to 6 per cent of the number of units and shares sold under this private placement.
The private placement is subject to the approval of the TSX Venture Exchange.
The funds raised by way of the private placement will be used for exploration programs on the Company's properties located in Saskatchewan.
About JNR Resources Inc.
JNR Resources Inc. is a Canada-based junior uranium exploration company with mineral properties in the provinces of Saskatchewan and Newfoundland. JNR is led by a highly experienced management team with proven discovery success in uranium as well as precious and base metal exploration. The Company's primary focus is in the Athabasca Basin, recognized as the most prospective uranium-mining district in the world.
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 news 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