Junex inc.
TSX VENTURE : JNX

Junex inc.

August 23, 2005 08:00 ET

Junex announces closing of private placement

QUEBEC CITY, Aug. 23 - NOT FOR DISTRIBUTION ON U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Junex Inc. (JNX : TSX Venture Exchange) has completed a previously-announced private placement by issuing
484,000 units at a price of $1.55 per unit, for gross proceeds to Junex of
$ 750,200. Each unit is comprised of one "flow-through" common share and one
half "flow-through" common share purchase warrant. Each whole warrant will
entitle the holder thereof to acquire one additional "flow-through" common
share at a price of $1.80 per share for a period of 18 months following the
closing of the private placement.

In connection with the private placement, in addition to the payment of a
cash commission equal to 6% of the gross proceeds thereof, Junex issued to
Dundee Securities Corporation, the agent for the private placement, a broker
warrant entitling it to purchase 29,040 common shares of Junex at a price of
$1.55 per share for a period of 18 months following the closing of the private
placement.

Under applicable securities legislation and the policies of the TSX
Venture Exchange, all of the foregoing securities, including the common shares
to be issued upon the exercise of the broker warrant, are subject to a hold
period expiring on December 23, 2005.

The proceeds from the private placement will be used by Junex to incur
Canadian exploration expenses on its properties located in the Province of
Quebec.

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: 00015378E

Contact Information

  • Mr. Jean-Yves Lavoie, P. Eng.,
    President,
    Junex Inc.,
    (418) 654-9661;

    Mr Dave Pépin,
    Corporate affairs,
    Junex Inc.,
    (418) 654-9661