RJK Explorations Ltd. Completes Upsized Private Placement

RJK Explorations Ltd. has announced the completion of an upsized non-brokered private placement, securing gross proceeds of $150,000. This offering involved the sale of 5,000,000 units at $0.03 per unit, each comprising one common share and a warrant allowing the purchase of another share at $0.05 within five years.

The company plans to allocate 90% of the proceeds to exploration and development, while the remaining 10% will cover working capital and general corporate needs. Approval from TSX Venture Exchange is pending, and a hold period of four months and a day applies to the securities issued.

An insider's purchase of 1,666,667 units constituted a related party transaction. Exemptions from certain regulatory requirements were observed, as the transaction's market value was under 25% of the company's market capitalization.