RJK Announces Private Placement: Fueling Exploration and Growth

RJK Explorations Ltd. (TSXV: RJX.A, US OTC: RJKAF) has announced the closing of a non-brokered private placement offering of units (each, a "Unit"), raising CAD 2.5 million. This strategic move will enable RJK to fund its ongoing exploration programs, operational expenses, and working capital. The private placement is a testament to RJK's commitment to its diamond exploration projects and its confidence in the future of the mining industry.

The private placement consists of 12,500,000 Units at a price of CAD 0.20 per Unit. Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of CAD 0.30 for a period of 24 months from the closing date.

The raised capital will be allocated to support RJK's ongoing exploration programs, with a focus on its kimberlite target in Bucke Township, Northern Ontario. The company will use the funds to drill-test a specific magnetic target on patented land, which has the potential to contain diamonds. Additionally, the funds will be used to cover operational expenses and enhance RJK's working capital, ensuring the company's financial stability during the exploration phase.

The private placement will result in the issuance of 12,500,000 new shares, which may impact RJK's shareholder dilution and future equity value. However, the strategic use of funds to support exploration and operational expenses is expected to generate long-term value for shareholders. As RJK continues to explore and develop its projects, the company's share price may benefit from increased investor confidence and potential discoveries.

In conclusion, RJK's private placement is a significant step in funding its ongoing exploration programs and operational expenses. The raised capital will enable RJK to continue its diamond exploration efforts, with a focus on its kimberlite target in Bucke Township. The strategic use of funds is expected to generate long-term value for shareholders, as RJK continues to explore and develop its projects.