RJK Explorations Increases Private Placement Offering to $425,000

RJK Explorations Ltd. has increased the size of its previously announced non-brokered private placement. The offering, initially detailed on October 9, 2024, will now raise gross proceeds of up to $425,000. The offering will consist of units priced at $0.035 per unit, each containing one common share and one warrant. The warrant entitles holders to acquire an additional common share for $0.07, exercisable over five years from issuance.

“We are excited to increase the scope of this placement, which enables us to move forward with our exploration plans and advance our projects,” said the RJK team.

The Company intends to allocate 70% of the proceeds toward diamond drilling efforts focused on potential kimberlite, base, and precious metal targets. The remaining 30% will be used for general working capital.

The offering is subject to customary closing conditions, including approval from the TSX Venture Exchange (TSX-V). The closing may occur in one or more tranches and is not contingent on a minimum raise. Securities issued through the offering will be subject to a four-month hold period under applicable securities laws and TSX-V regulations.

Additionally, RJK had previously announced its intention to issue 300,000 common shares to Great Lakes Nickel as compensation for the use of an excavator. Great Lakes Nickel has since declined payment, and RJK will no longer proceed with the share issuance.

This release is not an offer to sell securities in the U.S., nor a solicitation to buy them, as the securities have not been registered under the U.S. Securities Act of 1933.

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