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RJK announces Private Placement and Grant of Options

Jan 4, 2022

RJK Explorations Ltd. has announced that it has closed a non-brokered private placement offering of flow-through units. Pursuant to this closing, the company raised a total of $112,500 for the issuance of 900,000 Flow-Through Units of the company at a price of $0.125 per Flow-Through Unit.

Each Flow-Through Unit consists of one Class A common share of the Company ("Common Share") issued on a flow-through basis and one class A common share purchase warrant (each such warrant, a "Warrant") also issued on a flow-through basis, in each case in accordance with the Income Tax Act (Canada). Each Warrant will entitle the holder to purchase one Common Share in the capital of the Company at a price of $0.25 for a period of three years. The gross proceeds from the sale of the Flow-Through Units will be used to fund exploration work on the Company's Cobalt Ontario Diamond Project.

On December 31, 2021, the Company announces that it has granted a total of 1,000,000 options (the "Options") to its directors and officers. The Options will entitle the holders to purchase one Class A common share of the Company at a price of $0.125 for a period of five years. Of the total Options being granted, 500,000 will replace options that expired on December 16, 2021 and 500,000 will be issued to Mr. Gino Chitaroni, the Company's President. In addition, Mr. Chitaroni has subscribed for $50,000 of this placement.

All securities issued pursuant to the Offering are subject to a statutory hold period ending May 1, 2022. The Offering remains subject to final acceptance by the TSX Venture Exchange. 

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