JNR Announces Closing of
Resources Inc. (TSXV: JNN) ('JNR' or
the 'Company') is pleased to announce the closing of its private placement totalling $825,000. These funds were raised through the
issue by JNR of 6,500,000 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 were
issued at a price of $0.10 per share.
A commission of $48,000 and 480,000 broker warrants entitling the holder to acquire
one common share at an exercise price of $0.15 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 September 2, 2012.
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
President & CEO