RJK Announces Approval of Warrant Amendments

Rhea-AI Summary

RJK Explorations has received approval from the TSX Venture Exchange for amendments to 8,057,363 outstanding common share purchase warrants. The key changes include extending the expiry date to May 20, 2027 for all warrants, which were originally issued through a non-brokered private placement in May-June 2022. Additionally, 2,947,099 warrants will have their exercise price reduced from $0.25 to $0.12. Of the 5,916,000 Insider Warrants held by a company insider, only 805,736 are eligible for the exercise price amendment, while the rest maintain their original exercise price.

Positive

• Exercise price reduction from $0.25 to $0.12 for 2,947,099 warrants makes them more attractive to exercise
• Extension of warrant expiry date to May 20, 2027 provides more time for potential exercise

Negative

• Significant portion of warrants (5,916,000) are held by insiders, indicating high insider control
• Warrant amendments could lead to potential dilution if exercised

Kirkland Lake, Ontario--(Newsfile Corp. - May 14, 2025) - RJK Explorations Ltd. (TSXV: RJX.A) ("RJK" or "the Company") announces that the TSX Venture Exchange (the "Exchange") has approved amendments (the "Amendments") to 8,057,363 outstanding common share purchase warrants (the "Warrants") of the Company, as previously announced in the Company's 13 May 2025 news release.

The Warrants were originally issued pursuant to the Company's non-brokered private placement that closed in two tranches on May 20, 2022 and June 15, 2022. Pursuant to the Amendments, the new expiry date for all of the 8,057,363 Warrants shall be May 20, 2027.

2,947,099 of the Warrants will also have their exercise price reduced from $0.25 to $0.12. As previously disclosed, 5,916,000 Warrants (the "Insider Warrants") are held by an insider of the Company, and pursuant to TSX Venture Exchange policy, only 805,736 of the Insider Warrants are eligible for exercise price amendment, and the remainder will retain their original exercise price.

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/252105

FAQ

What changes were made to RJK Explorations (RJKAF) warrants in May 2025?

RJK Explorations extended the expiry date of 8,057,363 warrants to May 20, 2027, and reduced the exercise price from $0.25 to $0.12 for 2,947,099 warrants.

How many insider warrants of RJK Explorations (RJKAF) are eligible for price amendment?

Out of 5,916,000 Insider Warrants, only 805,736 are eligible for the exercise price amendment, while the remainder maintain their original exercise price.

When were the original RJK Explorations (RJKAF) warrants issued?

The warrants were originally issued through a non-brokered private placement that closed in two tranches on May 20, 2022 and June 15, 2022.

What is the new exercise price for eligible RJK Explorations (RJKAF) warrants?

The exercise price was reduced from $0.25 to $0.12 for eligible warrants.