Junex inc.

Junex inc.

July 25, 2016 16:30 ET

Junex Announces Shares for Debt Transaction

QUEBEC CITY, QUEBEC--(Marketwired - July 25, 2016) - Junex Inc. (TSX VENTURE:JNX) ("Junex" or the "Company") announces that, as provided for under the debentures issued in July 2015 to Sodémex Développement s.e.c. and Sidex s.e.c., it is settling a total interest payment of $73,972.60 by issuing a total of 160,810 shares at a price of $0.46 each.

This transaction is subject to the approval of the TSX Venture Exchange. These shares will be subject to a four month hold period.

Junex also announces that the term of its agreement with D&D Securities Inc. to provide market-making services has been extended until September 30, 2016. The fees payable under the agreement remain $5,000 per month, plus applicable taxes.

About Junex

Junex is a junior oil and gas exploration company that holds exploration rights on approximately 5.2 million acres of land in the Appalachian basin in the Province of Quebec, including the Galt Oil Property on the Gaspé Peninsula in eastern Quebec, landholdings on Anticosti Island in the Gulf of St. Lawrence and landholdings in the St. Lawrence Lowlands between Montreal and Quebec City. In parallel to its exploration efforts in Quebec and expansion of its exploration activities elsewhere, the company operates a drilling services division. As at March 31, 2016, Junex has a working capital of $13.7 Million.

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.

Contact Information

  • Junex Inc.
    Mr. Peter Dorrins
    President & Chief Executive Officer

    Junex Inc.
    Mr. Dave Pepin
    Vice President - Corporate Affairs