JKS RESOURCES INC. (CSE: JKS) (“JKS” or the “Company”) is pleased to announce that it successfully completed its initial public offering (the “IPO”) of 6,500,000 common shares (the “Shares”) of JKS at a price of $0.10 per Share for total gross proceeds of $650,000 (the “Proceeds”).
The Shares were listed on the Canadian Securities Exchange (“CSE”) effective November 29, 2022 and are expected to commencing trading on the CSE on December 1, 2022, under the trading symbol “JKS”.
Research Capital Corporation acted as agent (the “Agent”) for the IPO, pursuant to the agency agreement dated August 31, 2022. JKS paid to the Agent a cash commission equal to 10% of the Proceeds and granted the Agent non-transferable options entitling the Agent to purchase a total of 650,000 Shares at a price of $0.10 per Share until November 30, 2024. In connection with the IPO, the Agent also received a corporate finance fee of $35,000 plus GST.
The net proceeds of the IPO will be used by JKS to make payments pursuant to the option agreement dated January 8, 2021, as amended February 5, 2021 and November 9, 2021, regarding the Sowchea Property, to carry out exploration of gold and other mineral properties on the Sowchea Property and for general working capital purposes.
About JKS Resources Inc.
JKS is engaged in the business of exploration of gold focused mineral properties. JKS holds an option to acquire a 100% interest in the Sowchea Property, subject to a 1% gross over-riding royalty interest in the revenue from the sale of production (the “GORR”). JKS has the right to purchase half of the GORR for $1,000,000 at any time. The Sowchea Property consists of three mineral claims covering approximately 2,280 hectares in the Omineca Mining Division of Central British Columbia.
For more information please contact:
Gunther Roehlig
CEO, President & Director
T: 604-617-5421
Email: groehlig@gmail.com
This news release includes certain statements that may be deemed “forward-looking statements”, including statements respecting the services to be provided by JKS. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although JKS believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because JKS can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in JKS’s disclosure documents which can be found under JKS’s profile on www.sedar.com.
Neither the Canadian Securities Exchange (“CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.
