Junex Inc.

Junex Inc.

April 26, 2012 09:51 ET

Junex Inc. Increases Normal Course Issuer Bid

QUEBEC CITY, QUEBEC--(Marketwire - April 26, 2012) - Junex Inc. (TSX VENTURE:JNX) announces that it has amended its normal course issuer bid in order to increase the maximum number of common shares that may be repurchased for cancellation during the twelve month period ending May 31, 2012 from 1,000,000 common shares to up to 1,200,000, representing 1.95% of Junex's issued and outstanding common shares as at May 25, 2011 (see press release dated May 26, 2011). No other terms of the normal course issuer bid have changed.

The purchases by Junex will be effected through the facilities of the TSX Venture Exchange and will be made at the market price of the common shares at the time of the purchase.

To date, Junex has purchased a total of 1,000,000 common shares at a weighted average price of $0.7533 under the current normal course issuer bid. As at April 24, 2012, there were 60,324,071 Junex common shares issued and outstanding.

In addition, Junex has amended the automatic share purchase agreement with CIBC World Markets Inc. in connection with the normal course issuer bid in order to take into account the revised terms of the bid. Under the agreement, CIBC may acquire, at its discretion, common shares during certain pre-determined quarterly black-out periods, on Junex's behalf, subject to certain parameters as to price and number of shares.

The amended normal course issuer bid has been approved by the TSX Venture Exchange.

About Junex

Junex is a junior oil and gas exploration company that holds exploration rights on approximately 5.2 million acres of land located in the Appalachian basin in the Province of Quebec. The company is in the heart of the Utica Shale gas discovery located in the St. Lawrence Lowlands and holds a significant land-package on the Anticosti Island where an independent report has provided their Best Estimate of the undiscovered shale oil initially-in-place ("OIIP") volume for the Macasty Shale on all five of Junex's permits on Anticosti Island at 12.2 billion barrels. In parallel to its exploration efforts in Quebec and expansion of its exploration activities elsewhere, Junex's goal is to achieve positive cash flows from its natural brine and drilling services operations.

Forward-Looking Statements and Disclaimer

Certain statements in this press release may be forward-looking. Forward-looking statements are based on the best estimates available to Junex at the time and involve known and unknown risks, uncertainties and other factors that may cause Junex's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. A description of the risks affecting Junex's business and activities appears under the heading "Risks and Uncertainties" on pages 8 to 11 of Junex's 2010 annual management's discussion and analysis, which is available on SEDAR at www.sedar.com. No assurance can be given that any events anticipated by the forward-looking information in this press release will transpire or occur, or if any of them do so, what benefits that Junex will derive therefrom. In particular, no assurance can be given as to the future financial performance of Junex. Junex disclaims any intention or obligation to update or revise any forward-looking statements in order to account for any new information or any other event. The reader is warned against undue reliance on these forward-looking statements.

Neither 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. Jean-Yves Lavoie
    Chief Executive Officer

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