RJK Explorations arranges $130,000 private placement

Executive Summary

• RJK Explorations Ltd. has arranged a non-brokered private placement for gross proceeds of up to $130,000.
• The offering consists of units priced at 2.5 cents per unit, with each unit comprising one common share and one common share purchase warrant.
• Proceeds will be allocated 80% to working capital and general corporate purposes, and 20% to finance exploration programs on exploration properties.

Key Details

• Gross Proceeds: Up to $130,000.
• Offering Structure: Non-brokered private placement.
• Price per Unit: 2.5 cents.
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to purchase one common share at an exercise price of five cents.
• Warrant Expiry: Five years from the date of issuance.
• Use of Proceeds:
  • 80% for working capital and general corporate purposes.
  • 20% to finance exploration programs on exploration properties.
• Closing Conditions: Subject to customary closing conditions, including receipt of approval from the TSX Venture Exchange.
• Tranche Structure: Closing may occur in one or more tranches; not subject to a minimum amount of gross proceeds.
• Hold Period: Securities are subject to a four-month-and-one-day hold period in accordance with applicable Canadian securities laws and TSX-V policies.
• Insider Participation: Certain insiders may participate, constituting a related party transaction under Multilateral Instrument 61-101. The company intends to rely on exemptions from formal valuation and minority approval requirements, provided fair market value of insider participation does not exceed 25% of the company's market capitalization.