RJK Announces Proposed Extension and Re-Pricing of Warrants, Closing of Private Placement

KIRKLAND LAKE, ON, Aug. 27, 2013 /CNW/ - RJK Explorations Ltd. (TSX Venture: RJX.A) ("RJK" or the "Company") announces that it proposes, subject to TSXV approval, to amend an aggregate of 687,500 share purchase warrants by reducing the exercise price from $0.25 to $0.10 and extending the expiry date from September 23, 2013 to September 23, 2014. The warrants were originally issued in conjunction with the Company's March 2012 private placement.

In accordance with Exchange Policy 4.1 share purchase warrants the exercise period of the re-priced warrants will be reduced to 30 days if for any ten consecutive trading ("the Premium Trading Days") during the unexpired term of the Warrants the closing price of the Company's listed shares exceeds $0.26. This 30 day period will commence seven calendar days after the tenth Premium Trading Day, of the total proposed amended Warrants, none are held by insiders of the company.

In addition, with regards to the Company's news release dated August 13, 2013 announcing the closing of the "First Tranche" of its previously announced non-brokered private placement of June 13, 2013. The company advises that it was unable to close its proposed "Second Tranche" units of securities and as such has provided final private placement documentation for TSXV approval.

Forward-Looking Information

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the completion of the Second Closing and the timing related thereto and the Company's anticipated use of proceeds from the Offering. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to obtain final TSX Venture Exchange approval of the Offering, general business and economic uncertainties, future mineral prices and adverse market conditions, as well as those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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: RJK Explorations Ltd.

Glenn Kasner, President
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Vancouver Office:  James
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