Jun. 14, 2010 (TheNewswire.ca) --
Vancouver, B.C. - JOURNEY RESOURCES CORP. (OOTC:JNYRF) (TSXV:JNY) ("Journey" or the "Company") announces the closing of the private placement, the company has issued 11,493,334 units at six cents per unit for gross proceeds of $689,600, with a hold period expiring on September 28th, 2010. Each unit will consist of one common share of the company and one share purchase warrant. Each whole warrant will allow the holder to purchase one additional share of the company over 24 months from the date of closing, at an exercise price of twelve cents per share in the first year, and at an exercise price of eighteen cents per share in the second year. The warrants issued to subscribers expire on May 27, 2012.
Finder's fees totalling $56,700 will be paid, and the company will issue a total of 967,500 finders' warrants to eligible finders, on the same terms as that of the warrants issued to subscribers.
About Journey Resources Corp.
Journey Resources Corp. www.journeyresourcescorp.com is a mineral-exploration resource company trading on the TSX Venture Exchange (Symbol : JNY) and the Frankfurt Stock Exchange (Symbol : JL4). The Company is currently exploring four advanced exploration-stage projects; the Musgrove Gold Project, the Charay Gold Project, the Vianey Mine Silver Project and the Silver Mountain Project. The Musgrove Project is a prospect for a disseminated gold bulk-tonnage surface project similar to the Beartrack Mine, a nearby former gold producer. The Charay property consists of concessions totaling 380 hectares, located in Sinaloa, Mexico. The Vianey Mine Project consists of concessions totaling 5,022 hectares in Guerrero State west of Mexico City, Mexico. In addition, the Company owns 100% right, title and interest in and to certain mining claims comprising the Silver Mountain Property in Lima, Peru. The Silver Mountain Property is an advanced stage exploration property covering approximately 1,684 hectares, located approximately 75 kilometers east of Lima City and 50 kilometers south of Peru Copper's Toromocho property and Pan American Silver (NASDAQ:PAAS) (TSX:PAA) ´s Morococha Mine.
ON BEHALF OF JOURNEY RESOURCES CORP.
"Jatinder (Jack) Bal"
JATINDER (JACK) BALPresident & CEOJOURNEY RESOURCES CORP.
For further information on Journey Resources Corp., contact Jack Bal at (604) 633-2442, toll free 1-800-667-1442, e-mail jackbal@journeyresourcescorp.com, or visit our website at www.journeyresourcescorp.com.
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.
All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange, the British Columbia Securities Commission and the Alberta Securities Commission.
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