TORONTO, ONTARIO–(Marketwired – June 13, 2016) – Loncor Resources Inc. (the “Company”) (TSX:LN) is pleased to announce a non-brokered private placement of up to 1,750,000 units of the Company (the “Units”) at a price of Cdn$0.12 per Unit for gross proceeds of up to Cdn$210,000. Each such Unit is to be comprised of one common share of the Company and one-half of one warrant of the Company, with each full warrant entitling the holder to purchase one common share of the Company at a price of Cdn$0.18 for a period of one year. Closing of this financing (the “Financing”) is subject to receipt of all necessary approvals, including board and Toronto Stock Exchange approvals. The Company intends to use the proceeds from the Financing for general corporate purposes. All securities issued in connection with the Financing will be subject to a hold period of four months plus a day from the date of closing and the resale rules of applicable securities legislation.
