Re: News Releases - Thursday, March 22, 2007
JNR Announces Closing of $16 Million Financing
Not for dissemination to United States newswire services or for
dissemination in the United States.
Saskatoon, SK, March 22, 2007 - JNR Resources Inc. (TSXV:JNN) ("JNR")
is pleased to announce the closing of its brokered private placement
(the "Offering") for gross proceeds totalling $16,366,410, completed
through a syndicate of agents led by Wellington West Capital Markets
Inc. and including Toll Cross Securities Inc. and Versant Partners Inc.
(the "Agents"). These funds were raised through the issue by JNR of
1,780,300 flow-through common shares ("FT Shares") at a price of $4.70
per FT Share (for gross proceeds of $8,367,410) and 2,105,000 non
flow-through common shares ("NFT Shares") at a price of $3.80 per NFT
Share (for additional gross proceeds of $7,999,000).
A commission of $981,985 was paid by JNR to the Agents as consideration
for arranging the Offering. JNR also issued agents' warrants ("Agents'
Warrants") to the Agents, which entitle the Agents to purchase, in the
aggregate, up to 116,559 common shares of the Company at a price of
$3.80 per share until September 22, 2008.
The securities issued pursuant to the Offering and any shares to be
issued upon the exercise of the Agents' Warrants, are subject to a hold
period expiring July 23, 2007. Completion of the Offering is subject
to receipt by the Company of all necessary regulatory approvals.
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
ON BEHALF OF THE BOARD
President & CEO
For further information contact JNR Resources at 306.382.2211 or
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Copyright (c) 2007 JNR RESOURCES INC. (JNN-TSXV) All rights reserved.
For more information visit our website at http://www.jnrresources.com/
or send mailto:firstname.lastname@example.org
Message sent on Thu Mar 22, 2007 at 3:27:34 PM Pacific Time