Takara Strengthens Its Board and Management and Announces Stock Option Grant and Proposed Shares for Debt
Takara Resources Inc. P.O. Box 847 Haileybury, ON, P0J 1K0 www.takararesources.com
TAKARA STRENGTHENS ITS BOARD AND MANAGEMENT AND ANNOUNCES STOCK OPTION GRANT AND PROPOSED SHARES FOR DEBT
April 13, 2016 – Takara Resources Inc. ("Takara" or the “Company”) (TSX.V: TKK) is pleased to announce additions to its board and management team with the appointment of Annemette Jorgensen to its Board of Directors and Tina Whyte as Corporate Secretary.
Annemette Jorgensen brings a wealth of experience to the Board including directorship experience with TSX‐V listed issuers, plus over two decades of public company corporate development, finance, media, and public relations and investor relations expertise. Ms. Jorgensen has served on the board of Gold Bullion Development Corp. since April, 2012. As Manager of Debentures Investments with Samoth Capital Corporation, Ms. Jorgensen was responsible for raising over a million dollars per month. She graduated from CÉGEP Quebec and supplemented her education with courses, in Business Administration and Marketing and the Canadian Securities Course.
| Tina Whyte | brings over 20 years of experience in the corporate and securities industry. Her expertise |
| spans to areas of corporate governance, continuous disclosure, financing transactions and regulatory | |
| filings and compliance. Ms. Whyte holds corporate secretary positions with other publicly listed | |
| companies. |
Ms. Whyte replaces Linda Shewchuk as the Company’s Corporate Secretary and the Company wishes to thank Ms. Shewchuk for her commitment and dedication to the Company and wishes her well in her future endeavours.
The Company has granted stock options to its directors, officers, employees and consultants to purchase an aggregate of 1,850,000 common shares in the capital of the Company. The stock options are exercisable for a term of five years at an exercise price of $0.05 per share. All stock options are granted in accordance with the terms of the Company’s Stock Option Plan and the policies of the TSX Venture Exchange and will be subject to a hold period of four months and one day.
The Company has agreed to settle its debt obligation with a creditor of the Company in the amount of $44,270.65 in shares, for services rendered to the Company by issuing 885,413 common shares in the capital of the Company based on an agreed price of $0.05 per common share. The shares issued pursuant to the debt settlement transaction will be subject to a four month and one day statutory hold period. The shares for debt transaction remains subject to final TSX Venture Exchange approval.
About Takara Resources
Takara Resources Inc. is a TSX Venture‐listed junior natural resource company focusing on the exploration and development of its high‐grade Castle Silver Mine in Gowganda, Ontario. Additional information on the Company’s properties is available by visiting the website at Takararesources.com and on SEDAR.com.
“Frank J. Basa”
Frank J. Basa P. Eng.
President and Chief Executive Officer
For further information contact:
Frank J. Basa, P. Eng., President and CEO at 1‐819‐797‐4144
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.