Junex inc.

Junex inc.

November 29, 2006 16:44 ET

Junex Inc. files final short form prospectus for $5 million new issue

QUEBEC, Nov. 29 - Junex Inc. (JNX : TSX Venture Exchange)
announces that it has filed a final short form prospectus for its
previously-announced new issue in Québec, Ontario and British Columbia. The
offering consists of a treasury issue of a minimum of 909,090 common shares
and a maximum of 4,545,454 common shares at a price of $1.10 per share, for
minimum proceeds of $1 million and maximum proceeds of $5 million to Junex.

Junex will use the net proceeds from the offering primarily to further
develop its Haldimand oil prospect, as well as for other oil and gas
exploration activities. The lead agent for the public offering is Laurentian
Bank Securities Inc.

In connection with the public offering, Junex has obtained an advance tax
ruling from Revenu Québec confirming that the shares offered pursuant to the
prospectus qualify for inclusion in an SME Growth Stock Plan in accordance
with the Taxation Act (Québec).

Concurrent with the offering, Junex is effecting its previously-announced
private placement of units in Canada through Laurentian Bank Securities Inc.
and D&D Securities Company, on a best-efforts basis, at a price of
$1.10 per unit. Each unit is comprised of one common share and one-half of a
common share purchase warrant. Each full warrant will entitle the holder to
acquire one additional common share of Junex for a period of three years at a
price of $1.45 per share. The private placement is in a minimum amount of $1
million and maximum amount of $7 million. The units issued pursuant to the
private placement will be subject to a four-month "hold period" under
applicable securities legislation.

The initial closings of the public offering and private placement are
expected to take place on or about December 15, 2006.

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

    Patrick Langlois
    Investment Banking - Institutional Equity
    (514) 350-3045