Rjk Announces Closing of Private Placement
P.O. Box 1053, 4 Al Wende Avenue, Kirkland Lake, ON P2N 3L1 Tel: (705) 568 -7956
RJK ANNOUNCES CLOSING OF PRIVATE PLACEMENT
Kirkland Lake, Ontario – May 20, 2022 – RJK Explorations Ltd. (“RJK” or the "Company”)
(TSXV: RJX.A, US OTC: RJKAF) announces that it has closed a non-brokered private placement
offering of units (each, a "Unit"), raising $432,503.17 from the issuance of 3,931,847 Units at a
price of $0.11 per Unit (the "Offering").
Each Unit consists of one Class A Subordinate Voting Share in the capital of the Company
("Common Share ") and one Common Share purchase warrant (" Warrant"). Each Warrant
entitles the holder to purchase one Common Share at a price of $0.25 until May 20, 2025. The
proceeds will be used for general corporate and working capital purposes.
As part of the Offering , Great Lakes Nickel Limited ("GLN") subscribed for an d funded the
purchase of an additional 4,125,516 Units (the "Additional Units") for proceeds of $453,806.76
(the " Additional Funds ") which Additional Funds are being held in trust pending GLN's
satisfaction of certain requirements of the TSX Venture Exchange ("TSXV"). These requirements
include the filing by the control person of GLN of a personal information form, and GLN's provision
of an undertaking to TSXV to not exercise warrants held by it if such exercise would cause GLN's
ownership of Common Shares to exceed 10% of the issued and outstanding Common Shares.
Upon GLN satisfying the TSXV 's requirements, the Additional Funds will be released to the
Company and the Additional Units will be issued.
All securities issued pursuant to the Offering, are subject to a statutory hold period ending four
months and a day from the date of issuance thereof . The Offering remains subject to final
acceptance by the TSXV.
The securities offered pursuant to the Offering have not been, nor will they be, registered under
the United States Act of 1933, as amended, and may not be offered or sold in the United States
or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption
from the registration requirements. This news release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful.
Contact Information
Glenn Kasner, CEO
Mobile: (705) 568-7567
Email: [email protected]
Web Site: https://www.rjkexplorations.com
Company Information: Tel: (705) 568-7445
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Forward Looking Information
This news release includes certain forward -looking statements, which may include, but are not
limited to, statements concerning the Offering generally, the proposed use of the proceeds, the
Company's exploration plans, GLN's ability to satisfy the TSX Venture Exchange requirements
and provide the Company with the Additional Funds. Any statements contained herein that are
not statements of historical facts may be deemed to be forward-looking, including those identified
by the expressions "will", "anticipate", "believe", "plan", "estimate", "expect", "intend", "propose"
and similar expressions. With respect to forward -looking statements and information contained
herein, we have made numerous assumptions, including assumptions about the receipt of final
acceptance by the TSX Venture Exchange and the state of the equity markets. Forward-looking
statements involve known and unknown risks and uncertainties that could cause actual results,
performance, or achievements to differ materially from those expressed or implied in this news
release. Factors that could cause actual results to differ materially from those anticipated in this
news release include, but are not limited to, GLN not satisfying the TSX Venture Exchange 's
requirements. RJK assumes no obligation to update the forward-looking statements or to update
the reasons why actual results could differ from those reflected in the forward-looking statements
except as required by applicable law.