Tajiri Provides Update on Private Placement and Yono Property Acquisition
Tajiri Provides Update on Private Placement
and Yono Property Acquisition
VANCOUVER, BC
,
Oct. 9, 2024
/CNW/ - Tajiri Resources Corp. (the "Company") (TSXV: TAJ) is
pleased to announce that it has received conditional acceptance from the TSX Venture Exchange
("TSXV") and has closed the first tranche of its previously announced non-brokered private
placement offering of units (the "Offering") previously announced
September 23, 2024
.
The first tranche of the Offering consisted of 9,900,000 Units priced at
$0.05
per Unit for aggregate
gross proceeds of
$495,000
. Each Unit consisted of one common share (each, a "Common Share")
and one common share purchase warrant (each, a "Warrant"). Each warrant is exercisable by the
holder to acquire one Common Share at a price of
$0
.10 until
October 4, 2027
, subject to the
Acceleration Right (as defined herein). If, following the date hereof, the closing price of the
Company's common shares on the TSXV for any ten (10) consecutive trading days equals or
exceeds
$0.25
, the Company has the right, upon providing written notice to the holders of Warrants,
to accelerate the expiry date of the Warrants to the date that is thirty (30) days following the date of
such notice, which may provided by way of a news release (the "Acceleration Right"). In connection
with the Offering, the Company paid a total of
$32,550
cash and issued 651,000 Warrants to certain
finders in consideration for introducing certain purchasers to the Company. Pursuant to applicable
Canadian securities laws, all securities issued and issuable in connection with the first tranche of the
Offering will be subject to a four (4) month hold period.
The Company intends to utilize the net proceeds from the Offering for the exploration and
development of the Company's mineral properties and for general working capital purposes.
Additionally, a portion of the proceeds raised pursuant to the first tranche of the Offering will be
used to complete various requirements associated with the Company's proposed acquisition of the
Yono Gold Property (the "Project"), previously announced
July 18, 2024
. Specifically, the Company
will use proceeds to complete an independent report for the Project prepared in accordance with
National Instrument 43-101 –
Standards of Disclosure for Mineral Projects
(the "Technical Report").
Proceeds will also be used for the completion of various documents, legal fees, mailing, and other
corporate costs related to the Project acquisition. Total costs to the Company are anticipated to be
$30,000
. None of the proceeds from the second tranche of the Offering will be used for the Project
acquisition, and the Offering remains subject to final TSXV and regulatory approvals.
The Company is working to satisfy the TSXV requirements for the acquisition of the Project under
Section 5.7 of TSXV Policy 5.3. To obtain final approval from the TSXV, the Company will submit the
Technical Report and a financial plan demonstrating sufficient resources to cover obligations for six
months post-closing and the first phase of the recommended work program. Evidence supporting the
transaction's valuation will also be provided, either through the Company's justification of
consideration or via disinterested shareholder approval.
The transaction agreements governing the acquisition of the Project have been filed with the TSXV,
and any material changes will require further TSXV approval. Required personal information forms
for certain insiders have been acknowledged by the TSXV, with final closing subject to their
completion and clearance. A legal title opinion confirming Nebula Resources Inc.'s authority to
transfer the Project interest will also be required.
The Company will provide status updates through follow-up news releases at 30-day and 90-day
intervals. Final TSXV approval will also require a closing news release and disinterested shareholder
approval, including resolutions from disinterested directors. The remaining filing fee of
$14,700
will
be remitted to the TSXV.
On Behalf of the Board,
Tajiri Resources Corp.
Graham Keevil
,
President & CEO
About Tajiri Resources Corp.
Tajiri Resources Corp. is a junior gold exploration and development company with exploration
assets located in two of the worlds least explored and highly prospective greenstone belts of
Burkina Faso
,
West Africa
and
Guyana
,
South America
. Led by a team of industry professionals
with a combined 100 plus years' experience the Company continues to generate shareholder value
through exploration.
www.tajirigold.com
This news release contains "forward-looking information" and "forward-looking statements"
(collectively, "forward-looking statements") within the meaning of the applicable Canadian
securities legislation, including but not limited to expected size of the second tranche, the proposed
use of proceeds of the Offering, the anticipated closing date of the second tranche of the Offering,
the closing Project acquisition and receipt of the approvals required and related thereto. All
statements, other than statements of historical fact, are forward-looking statements and are based
on expectations, estimates and projections as at the date of this news release. Any statement that
involves discussions with respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions, future events or performance (often but not always using phrases such as
"expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans",
"budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words
and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or
"will" be taken to occur or be achieved) are not statements of historical fact and may be forward-
looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of the Company to be materially
different from any future results, performance or achievements expressed or implied by the
forward-looking statements. Forward-looking statements contained herein are made as of the date
of this news release and the Company disclaims, other than as required by law, any obligation to
update any forward-looking statements whether as a result of new information, results, future
events, circumstances, or if management's estimates or opinions should change, or otherwise.
There can be no assurance that forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such statements.
Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
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.
SOURCE
Tajiri Resources Corp.
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For further information:
Contact Information: Tajiri Resources Corp., Graham Keevil, President,
CEO, 778.229.9602, [email protected]
CO: Tajiri Resources Corp.
CNW 19:43e 09-OCT-24