RJK Announces Approval of Warrant Amendments

Rhea-AI Summary

RJK Explorations (TSXV: RJX.A) has received approval from the TSX Venture Exchange for amendments to 900,000 outstanding common share purchase warrants. The warrants, originally issued during a non-brokered private placement closing December 31, 2021, will now expire on December 31, 2026. Of the total warrants, 590,000 will have a new exercise price of $0.10. Due to Exchange policies, only 90,000 of the 400,000 warrants held by an insider could have their exercise price amended.

Positive

• Extension of warrant expiration date from 2021 to 2026 provides additional time for warrant holders
• Reduction in exercise price to $0.10 for 590,000 warrants makes them more attractive to exercise

Negative

• amendment of insider-held warrants (only 90,000 out of 400,000) due to Exchange restrictions
• Potential future dilution if all warrants are exercised

Kirkland Lake, Ontario--(Newsfile Corp. - December 20, 2024) - RJK Explorations Ltd. (TSXV: RJX.A) ("RJK" or "the Company") announces that the TSX Venture Exchange (the "Exchange") has approved the amendments (the "Amendments") to 900,000 outstanding common share purchase warrants (the "Warrants") of the Company, as previously announced in the Company's December 6, 2024 news release. All of the holders of the Warrants provided consent for the Amendments.

The Warrants were originally issued pursuant to the Company's non-brokered private placement that closed December 31, 2021. Pursuant to the Amendments, the new expiry date for all of the 900,000 Warrants shall be December 31, 2026, whereas only 590,000 of the Warrants will have a new exercise price of $0.10. As previously disclosed, this is because 400,000 Warrants are held by an insider of the Company and pursuant to the policies of the Exchange, the exercise price of only 90,000 Warrants held by such insider could be amended.

Contact Information
Glenn Kasner, CEO
Mobile: (705) 568-7567
Email: info@rjkexplorations.com

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. 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. 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. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234789

FAQ

What changes were made to RJX.A warrants in December 2024?

The expiry date for 900,000 warrants was extended to December 31, 2026, and 590,000 warrants had their exercise price amended to $0.10.

How many RJX.A warrants are held by insiders?

400,000 warrants are held by an insider of RJK Explorations, with only 90,000 of these eligible for exercise price amendment due to Exchange policies.

When were the original RJX.A warrants issued?

The warrants were originally issued through a non-brokered private placement that closed on December 31, 2021.

What is the new exercise price for RJX.A warrants after the amendment?

590,000 of the warrants will have a new exercise price of $0.10, while the remaining warrants retain their original exercise price.