Junex inc.
TSX VENTURE : JNX

Junex inc.

March 22, 2006 15:16 ET

Junex Inc. announces first closing of private placement

QUEBEC, QC, Dec. 22 - NOT FOR DISTRIBUTION ON U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES

Junex Inc. (JNX : TSX Venture Exchange) announces that it has held a first closing
of its previously-announced private placement by issuing 2,486,363 units at a price
of $1.10 per unit, for gross proceeds to Junex of $2,735,000. Each unit
consists of one common share and one-half of a common share purchase warrant.
Each full warrant entitles its holder to acquire one additional common share
of Junex for a period of three years at a price of $1.45 per share.

The sale of the 2,486,363 units represents the first tranche of Junex's
private placement. Junex anticipates that a second closing of the private
placement may take place in January 2007. Junex will use the net proceeds from
the offering primarily to further develop its Haldimand oil prospect.

The lead agents for the private placement were Laurentian Bank Securities
Inc. and D&D Securities Company. At the closing, Junex granted warrants to the
two agents, entitling them to acquire up to 162,796 additional units at a
price of $1.10 per unit for two years.

As a result of the closing, there are 46,867,856 common shares of Junex
issued and outstanding.


About Junex


Junex is a junior oil and gas exploration company that holds exploration
rights on more than 4 million acres of land located in the Appalachian basin
in the province of Québec. Recent major discoveries in the United States and
Eastern Canada have stimulated exploration in Québec, which is located in a
favourable geological setting for oil and gas discovery. Junex's strategy is
to reduce exploration risks by entering into partnerships with other
exploration companies. In parallel to its exploration efforts, Junex is active
in the production and marketing of natural brine, as well as the provision of
drilling services for oil and natural gas wells.

Contact Information

  • JUNEX: Jean-Yves Lavoie, President and Chief
    Executive Officer, (418)-654-9661; Dave Pépin, Vice-President, Corporate Affairs, (418) 654-9661; LAURENTIAN BANK SECURITIES INC.: Patrick Langlois, Investment Banking - Institutional Equity, (514) 350-3045, langloisp@vmbl.ca