Not for distribution to U.S. Newswire Services or for release, publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States
- $25.3million in gross proceeds raised at $4.00 per HD Juno Share, $4.50 per FT Juno Share and $5.52 per Premium FT Juno Share.
- Flow-through proceeds expected to fully fund the Company's proposed 2027 exploration program.
TORONTO, ON / ACCESS Newswire / October 28, 2026 / Juno Corp. ("Juno" or the "Company"), the largest mineral claim holder and most active explorer in Ontario's Ring of Fire, is pleased to announce that it has completed a non-brokered private placement (the "Offering") for aggregate gross proceeds of $25,290,609. Pursuant to the Offering, the Company issued an aggregate of (i) 165,750 common shares of Juno ("HD Juno Shares"), on a non-flow-through basis at a price of $4.00 per HD Juno Share, (ii) 404,890 common shares of Juno that qualify as "flow-through shares" as defined in subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act") (the "FT Juno Shares"), at a price of $4.50 per FT Juno Share, and (iii) 4,131,450 common shares of Juno, which qualify as "flow-through shares" as defined in subsection 66(15) of the Tax Act (the "Premium FT Juno Shares", and together with the HD Juno Shares and the FT Juno Shares, the "Juno Securities"), at a price of $5.52 per Premium FT Juno Share. Following completion of the Offering, Juno has 83,199,654 common shares issued and outstanding.
"This financing is expected to fully fund our 2027 exploration program and builds on our 2026 program, the largest drilling campaign undertaken in the Ring of Fire in decades," said Robert Cudney, Founder and Chief Executive Officer of Juno.
Use of Proceeds
The net proceeds raised from the sale of HD Juno Shares will be used by Juno to fund operational expenditures and for general corporate purposes. An amount equal to the aggregate gross proceeds raised from the sale of the FT Juno Shares and the Premium FT Juno Shares (the "Commitment Amount") will be used by Juno before December 31, 2027 to incur or deem to occur "Canadian exploration expenses" (as defined in the Tax Act) that will qualify as "flow-through critical mining expenditures" within the meaning of subsection 127(9) of the Tax Act and "eligible Ontario critical minerals exploration expenditure" as defined in subsection 103(4.1) of the Taxation Act, 2007 (Ontario) for certain qualifying individuals (the "Qualifying Expenditures"). Juno will renounce the Qualifying Expenditures in an amount equal to the Commitment Amount so incurred or deemed to be incurred to the subscribers of the FT Juno Shares and the Premium FT Juno Shares with an effective date no later than December 31, 2026.
The Juno Securities were offered by way of private placement in each of the provinces and territories of Canada in accordance with, and pursuant to applicable exemptions from the prospectus requirements under, applicable Canadian securities laws. The HD Juno Shares were also offered by way of private placement (i) in the United States or to, or for the account or benefit of, U.S. persons, by way of private placement pursuant to the exemptions from the registration requirements provided for under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and (ii) in jurisdictions outside of Canada and the United States on a private placement or equivalent basis, in each case in accordance with all applicable laws, provided that no prospectus, registration statement or other similar document is required to be filed in such jurisdiction.
Juno is a private company and there is currently no market through which its securities may be sold and investors may not be able to resell the securities purchased under the Offering. The securities issued pursuant to the Offering are subject to an indefinite statutory hold period, in accordance with applicable Canadian securities laws. No finder's fees were paid in connection with the Offering.
About Juno Corp.
Juno Corp. is a private, Ontario-based mineral exploration company and the largest mineral claim holder in the Ring of Fire. With a land position covering approximately 5,796 km², Juno is focused on discovering and advancing gold and critical mineral assets through responsible exploration, technical excellence, and strategic partnerships.
For further information, please contact:
Robert Cudney
Chief Executive Officer
416-628-5902
info@junocorp.com
Michael G. Leskovec, CPA, CA
Chief Financial Officer
416-628-5940
lesko@junocorp.com
Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable Canadian and United States securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, including, but not limited to, the use of proceeds of the Offering, the renunciation of Qualifying Expenditures, and the Company's 2027 exploration plans. The forward-looking information is based on reasonable assumptions and estimates of the management of Juno at the time such statements were made and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Juno to be materially different from those expressed or implied by such forward-looking information, including, as applicable, risks associated with exploration; future commodity prices; changes in regulations; political or economic developments; environmental risks; permitting timelines; capital expenditures; technical difficulties in connection with exploration activities; employee relations; the speculative nature of mineral exploration, including the risks of diminishing quantities or grades of resources; contests over title to properties; Juno's limited operating history; future capital needs and uncertainty of additional financing; and the competitive nature of the mining industry; the need for Juno to manage its future strategic plans; global economic and financial market conditions; uninsurable risks; and changes in project parameters as plans continue to be evaluated. Although management of Juno has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Although the forward-looking information contained in this news release is based upon what management of Juno believes, or believed at the time, to be reasonable assumptions, Juno cannot assure readers that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Juno does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
SOURCE: Juno Corp.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/juno-corp.-closes-25-million-non-brokered-private-placement-1242746
