$500,000 Non-Brokered Private Placement, OGK Option Amendment, Bhamji to Board of Directors
VANCOUVER, BRITISH COLUMBIA - (August 7th, 2013) - Tajiri Resources Corp. (the "Company") (TSX VENTURE: TAJ) reports that it will, subject to TSX Venture Exchange approval, complete a non-brokered private placement of 10,000,000 units to raise $500,000 CDN in proceeds for the Company. Each unit will be priced at $0.05 per and consist of one common share and one common share purchase warrant; each whole warrant will entitle the holder to purchase an additional common share at a price of $0.10 for 24 months from the closing date. Proceeds from the offering will be used to further develop the Company’s Kaburi PL Gold Project in Guyana, and for general working capital purposes. Fees may be paid on a portion of the offering in accordance with TSX Venture Policies.
Additionally the Company announces an amendment to the terms of the OGK Copper Gold Property Agreement. Under the amendment the Company will issue 400,000 Common shares to the vendors in lieu of a $15,000 cash payment otherwise due on the first anniversary of the agreements approval. As a result of the amendment, and including the shares under the original agreement, total issuance in year two will now be 500,000 shares of the Company. All other terms remain the same and the Company has met its expenditure requirements as a result of work completed during the 2012 field season.
The Company would like to welcome Mr. Bilal Bhamji to the board of directors, a result of the most recent meeting of the board. Mr. Bhamji has more than 10 years of capital market experience as relating to Accounting, Finance and Compliance matters and since 2010 has served as Financial Controller of Tajiri Resources Corp., and Arrowhead Gold Corp. Mr. Bhamji has been the President of AlphaOne Accounting Inc. since 2006 - a private B.C. Company providing management and accounting services to both personal and corporate clients. Mr. Bhamji will join the board of directors in addition to his current role of Chief Financial Officer and Corporate Secretary of the Company.
On Behalf of the Board,
Tajiri Resources Corp.
Graham Keevil,
President, CEO
Neither the 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.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.
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Contact Information:
Tajiri Resources Corp.
Graham Keevil President, CEO 604-642-0115 or Toll Free 866-345-0115 604-642-0116 (FAX)