RJK Explorations Ltd. has closed its upsized non-brokered private placement, raising gross proceeds of $150,000 through the sale of 5,000,000 units priced at $0.03 each.

Each unit consists of one common share and one purchase warrant, which allows the holder to acquire an additional common share at $0.05 for five years from issuance. RJK intends to allocate 90% of the proceeds toward exploration and development activities, with the remaining 10% designated for working capital and general corporate purposes.

An insider purchased 1,666,667 units in the placement, qualifying as a related party transaction under Multilateral Instrument 61-101. The company relied on exemptions from formal valuation and minority approval requirements because the insider participation did not exceed 25% of the company's market capitalization.

The offering remains subject to final approval from the TSX Venture Exchange. All securities issued under the placement are bound by a four-month and one-day statutory hold period under Canadian securities laws.

Previously, RJK optioned the Huff patents in Bucke Township in October 2024 and completed diamond drilling to test potential kimberlite anomalies.

Read the full announcement: RJK Explorations Ltd. Announces Closing of Previously Upsized Private Placement for Gross Proceeds of $150,000