Junex inc.

Junex inc.

March 23, 2006 23:59 ET

JUNEX to raise $1,000,000 with Desjardins-Innovatech

QUEBEC, March 23 2006 - Junex (JNX - TSX Venture Exchange) is
pleased to announce it's intention to proceed with a private placement of
$1,000,000 with Desjardins-Innovatech, subject to the customary approvals of
regulatory authorities. The private placement is in the form of a 36-month
convertible debenture bearing an interest rate of 12.25%, with the interest
payable in common shares of Junex. The debenture will be convertible into
common shares of Junex at a price of $1.25 per share for the first two years
and $1.375 per share during the third year. Additionally, Junex will issue to
the subscriber 333,333 warrants to purchase common shares of Junex at an
exercise price of $1.50 for the first two years and $1.65 during the third

"This represents our first financing with the Desjardins group and we are
pleased with the confidence demonstrated by Desjardins-Innovatech. This
financing will permit Junex to strengthen its financial position as important
work is beginning at the Haldiman well and as we prepare for our upcoming
exploration campaign. The potential for oil and gas in Quebec is experiencing
a historic level of interest, and Junex, with rights on over 4 million of
acres and a strategy of partnering with other players to reduce exploration
risk, is well positioned to benefit from any eventual discovery in Quebec"
said M. Jean-Yves Lavoie, President of Junex.

About Junex

Junex holds exploration rights on more than 4 million acres of land
located in the Appalachian basin in the province of Quebec. Recent major
discoveries in the United States and Eastern Canada have stimulated
exploration in Quebec, 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 goal is to achieve positive cash flows from its
natural brine and drillings services operations. Junex also holds a 12%
interest in Petrolia (PEA : TSVX) and a 7% interest in Gastem (GMR : TSXV).

The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.
%SEDAR: 00015378EF

Contact Information

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

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