Junex Inc. is pleased to announce a proposed private placement in the total aggregate amount of up to $22,000,000, including $10,000,000 that has been sourced by Junex.

The $10,000,000 amount includes: •An amount of $7,500,000 to be raised through the issuance of units at a price of $0.90 each, each unit made up of one share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to subscribe for one common share at a price of $1.25 for a period of 24 months and $1.40 for the subsequent 12 months. This portion of the private placement is non-brokered. •An amount of $2,500,000 to be raised through the issuance of a Series A Debenture and a Series B Debenture, each in the principal amount of $1,250,000 and convertible into common shares at a price of $1.17 per share. The Debentures are also accompanied by a total number of 1,388,888 warrants. Each whole warrant will entitle the holder to subscribe for one common share at a price of $1.25 for a period of 24 months and $1.40 for the subsequent 12 months. Both debentures will mature after five years and bear interest at an annual rate of 12% payable semi-annually. Junex may elect to pay up to 50% of the interest charges in common shares, subject to the approval of the TSX Venture Exchange (the "TSXV"). At the option of the Company, the Series A Debenture will become automatically convertible at market price as soon as the Company obtain a lease to produce petroleum with respect to its Galt project. The Series B Debenture will be redeemable at all times at the Company's option and will become convertible if and when Junex elects to so redeem it. This portion of the private placement is non-brokered.

Tags: Junex Inc.