JNR Announces Closing of Private Placement
NOT FOR DISSEMINATION TO U.S NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE U.S. Saskatoon, SK, March 11, 2011 - JNR Resources Inc. ("JNR") is pleased to announce the closing of its private placement totalling $2,810,000. These funds were raised through the issue by JNR of 5,620,000 flow-through units at a price of $0.50 per share. Each flow-through unit is comprised of 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 $0.65 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 $0.65 for period of 18 months from the date of issuance was paid to Toll Cross Securities Inc. as consideration for arranging a portion of the private placement. The shares issued pursuant to the Private Placement are subject to a hold period expiring July 11, 2011. The funds raised by way of the private placement will be used for exploration programs on JNR's properties located in northern Saskatchewan. JNR is a junior resource company currently engaged in the exploration and development of mineral properties in the provinces of Saskatchewan and Newfoundland. JNR has a varied interest in several prospective uranium properties in the Athabasca Basin of northern Saskatchewan that have been and will continue to be the focal point of JNR's exploration efforts. ON BEHALF OF THE BOARD Rick Kusmirski President & CEO For further information contact JNR Resources at 306.382.2211 or 877.567.6463 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
JNR is a silver and gold exploration company based in Canada.
JNR holds various exploration projects in Canada.
Its main exploration properties are BELL LAKE, PENDLETON LAKE, KELIC LAKE, NORTH WEDGE, SOUTH DUFFERIN, SNOWBIRD PROPERTY, YURCHISON LAKE, TOPSAILS, SOUTH FORK, CRACKINGSTONE, MOORE LAKE, ROCKY BROOK, SOUTH CIGAR, LAZY EDWARD BAY, WAY LAKE, BLACK LAKE PROPERTY and NEWNHAM in Canada.
Its stock quote reached its lowest recent point on December 31, 2003 at CA$ 0.03, and its highest recent level on December 31, 2007 at CA$ 4.50.
JNR has 114 620 000 shares outstanding.