/NOT FOR DISSEMINATION TO UNITED
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THE UNITED STATES./
TSXV:JNN
Email: info@jnrresources.com
Website: www.jnrresources.com
SASKATOON, SK,
Nov. 5, 2012 /CNW/ - JNR Resources
Inc. (TSXV:JNN) ("JNR") is pleased to announce that it has
entered into an agreement with Toll Cross Securities Inc. (the
"Agent") to complete a private placement financing (the
"Offering"), on a commercially reasonable efforts agency basis, for
the issue of up to 34,615,384 flow-through common shares
("Flow-Through Shares") at a price of $0.065 per Flow-Through Share for gross proceeds
of approximately $2,250,000, and
13,636,364 units at $0.055 per unit
for gross proceeds of $750,000. Each
unit will consist of one common share and one-half of one common
share purchase warrant. Each full warrant is exercisable for 18
months from closing into one common share at $0.10 per share. In addition, the Agent has been
granted the option to sell an equivalent dollar value of units in
lieu of Flow-Through Shares and can increase the size of the
Offering by approximately $450,000
(15%).
JNR will ensure that gross proceeds from the
sale of the Flow-Through Shares will be used to incur Canadian
Exploration Expenses for the purposes of the Income Tax Act
(Canada). The net proceeds
from the sale of the units will be used to fund exploration efforts
on JNR's properties and for general working capital purposes. All
securities issued in connection with the Offering will be subject
to a four month hold period. The Offering is scheduled to close on
or about November 23, 2012 and is
subject to regulatory approval.
The securities being offered have not been
registered under the U.S. Securities Act of 1933, as amended, and
may not be offered or sold in the United
States in the absence of registration or an applicable
exemption from the registration requirements. This press release
does not constitute an offer to sell or the solicitation of an
offer to purchase securities in the
United States.
JNR is a junior resource company currently
engaged in the exploration and development of mineral properties in
the provinces of Saskatchewan and
Newfoundland. The company has a
varied interest in several prospective uranium properties in the
Athabasca Basin of northern
Saskatchewan that have been and
will continue to be the focal point of JNR's exploration
efforts.
ON BEHALF OF THE BOARD
Rick
Kusmirski
President & CEO
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.
SOURCE JNR Resources Inc.