Any body still interested in news from the Kennel club.
When was the last time that an exploration company raised money with a PP at almost 3 times the current price.
Could be something happening here. There searching in the right place, the deposits are small, but rich. Could be there finally zeroing in.
JNR Resources Inc JNN
Shares issued 26,415,760 Jan 25 close $0.07
Wed 26 Jan 2000 News Release
Mr. Dale Hoffman reports
The company has negotiated a private placement agreement with Kennecott
Canada Exploration Inc. involving a $500,000 private placement consisting
2.5 million units at 20 cents. Each unit will be comprised of one common
share and one-half of a share purchase warrant. Each warrant may be
exercised to purchase one common share at 30 cents for two years.
The common shares and any shares issued on the exercise of the warrants
forming a part of the units will be subject to a hold period of four months
from the date of closing.
Under the agreement, proceeds of the private placement will be used
exclusively to finance staking or other acquisition and further exploration
work on the company's Saskatchewan uranium project, in the Athabasca basin
region of north-central Saskatchewan, which is operated under a joint
venture between the company and Kennecott. As well, the company has
undertaken to use its best efforts to raise a further $500,000 in
exploration capital to be used for exploration on the project during 2000.
The agreement also provides that all property within the Athabasca basin,
acquired by the joint venture subsequent to Aug. 31, 1999, will be held by
both companies on a 50/50 basis, and will be subject to a joint venture
agreement between them.
The private placement transaction is subject to acceptance by the Canadian
Venture Exchange and any other regulatory authority having jurisdiction,
and to the signing of a definitive joint venture agreement.
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