Junex inc.

Junex inc.

August 05, 2005 10:48 ET

Junex : $750,000 private placement

QUEBEC CITY, Aug. 5 - Junex announces its intention to
effect a $750,000 private placement with a Canadian institutional investor.
Under the terms of the proposed private placement, Junex would issue a total
of 484,000 units at a price of $1.55 per unit. Each unit would be composed of
one flow-through common share and one half of a flow-through common share
purchase warrant. Each full warrant will allow the subscriber to buy one flow-
through common share of Junex at a price of $1.80 for a period of 18 months
following the closing of the private placement. Dundee Securities Corporation
has been engaged to act as agent for the purpose of this placement.

"This new placement will enable Junex to perform an important seismic
survey on its Bay des Chaleurs property where past work has demonstrated the
presence of a large geological structure. The seismic survey will be carried
out with the intent of better identifying drill targets for a 2006 program. We
also plan to use part of the proceeds of this placement to drill an additional
well in the Becancour area where Junex is presently producing natural brine,
and is working to locate a gas cap which to allow us to develop an underground
storage reservoir for natural gas" commented Mr Jean-Yves Lavoie, P. Eng.,
president of Junex.

About Junex

Active in the natural resources sector, Junex is a unique company in
Quebec since it is the only natural brine and natural gas producer in the
Province. In parallel to these production activities that are located in the
Bécancour area (brine) and in the Gaspé (natural gas), Junex continues its
efforts to develop a natural gas underground storage facility beneath the
Bécancour industrial park. With more than 4 million acres under exploration
permit in Quebec (including the permits held by Petrolia on which Junex holds
a 50% interest in future production), Junex is also the leading oil and gas
producer and explorer in the province. Junex also holds a 20% interest in the
stock of Petrolia (PEA : TSX Venture).

The TSX Venture Exchange has neither approved nor disapproved the
information contained herein
%SEDAR: 00015378EF c7521

Contact Information

  • Mr. Jean-Yves Lavoie,
    President and Chief of Operations,
    (418) 654-9661, ext. 232

    Mr. Dave Pépin,
    Vice President
    Corporate Affairs,
    (418) 654-9661, ext. 225