KIRKLAND LAKE, ON, Aug. 13, 2013 /CNW/ - RJK Explorations Ltd. (TSX
Venture: RJX.A) ("RJK" or the "Company") announces the closing of
the first tranche (the "First Tranche") of its previously announced
non-brokered private placement of June 13,
2013. Under the First Tranche 194,000 flow-through
units of securities (each, a "Unit") were issued at a price of
$0.07 per Unit, raising gross
proceeds of $13,580. In addition,
100,000 non flow-through units of securities (each a "Unit)
were issued at a price of $0.05
raising gross proceeds of $5,000.
Each Unit consists of one Class A subordinate voting share of the
Company (each, a "Share") and one-half of one warrant (each whole
warrant, a "Warrant"), with each Warrant entitling the holder to
purchase one non flow-through Share at a price of $0.10 for a 12-month period. It is anticipated
that the second closing of the Offering (the "Second Closing") will
take place on or before August 30,
2013.
The Company paid a cash finders fee of
$280.00 in connection with this
private placement.
The securities issued under the Offering are
subject to a hold period expiring on December 14, 2013.
The proceeds raised from the issuance of the
Units is to be used to fund exploration work on the Company's
Blackwater Properties BC.
Forward-Looking Information
This news release contains forward-looking
information which is not comprised of historical facts.
Forward-looking information involves risks, uncertainties and other
factors that could cause actual events, results, performance,
prospects and opportunities to differ materially from those
expressed or implied by such forward-looking information.
Forward-looking information in this news release includes, but is
not limited to, the completion of the Second Closing and the timing
related thereto and the Company's anticipated use of proceeds from
the Offering. Factors that could cause actual results to differ
materially from such forward-looking information include, but are
not limited to, failure to obtain final TSX Venture Exchange
approval of the Offering, general business and economic
uncertainties, future mineral prices and adverse market conditions,
as well as those risks set out in the Company's public documents
filed on SEDAR. Although the Company believes that the assumptions
and factors used in preparing the forward-looking information in
this news release are reasonable, undue reliance should not be
placed on such information, which only applies as of the date of
this news release, and no assurance can be given that such events
will occur. The Company disclaims any intention or obligation to
update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, other than
as required by law.
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.
SOURCE RJK Explorations Ltd.