Junex closes $3.94M financing with Lansdowne Partners Austria

News Release

Junex Closes a $3.9 Million Private Placement

QUEBEC CITY, QUEBEC — (Marketwire – October 23, 2017) – Junex Inc. (TSX VENTURE:JNX) (“Junex” or the “Company”) is pleased to announce that it has completed, with Lansdowne Partners Austria GmbH (“LPA”), a non-brokered private placement of 8,750,000 units, each (a “Unit”) issued at a price of $0.45, for gross proceeds of $3,937,500. Each Unit is made up of one common share of the Company (each a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to subscribe for one Common Share at a price of $0.59 for a period of 48 months. The Units were issued to an investment company of which LPA is the investment manager (the “Investment Company”).

As long as LPA or the Investment Company holds at least 5% of Junex’s outstanding Common Shares, Junex undertakes, at LPA’s request, to use its best efforts to appoint a representative designated by LPA to the Company’s board of directors.

Junex intends to use the proceeds of the private placement for general corporate purposes. All securities issued under the private placement are subject to a hold period expiring on February 21, 2018.

This private placement remains subject to the filing of customary closing documentation with the TSX Venture Exchange.

As a result of the closing of the private placement, the Investment Company has on the date hereof beneficial ownership of, and LPA has control or direction over, (i) 8,750,000 Common Shares, representing approximately 9.9% of the outstanding Common Shares, and (ii) 4,375,000 Warrants. Assuming the exercise on the date hereof of the Warrants issued to the Investment Company, the Investment Company would have beneficial ownership of, and LPA would have control or direction over, 13,125,000 Common Shares, or approximately 14.1% of the outstanding Common Shares after giving effect to the exercise of the Warrants. The Units were issued pursuant to a subscription agreement which contained customary terms and conditions. Until such time as the TSX Venture Exchange authorizes the Investment Company to become an insider of the Company, the Investment Company may exercise the Warrants only to the extent that, following that exercise, it will hold less than 10% of the outstanding Common Shares.

About Junex

Junex is a Quebec SME that seeks to be a catalyst in accessing Quebec’s oil and gas resources, while ensuring that their development becomes an important means of creating collective wealth for Quebeckers. Junex’s operations are conducted in a responsible manner, in strictest compliance with the rules, laws and regulations that govern oil and gas activities. To that end, every day it takes all measures to minimize the environmental impact of its activities.