Tajiri Raises $1,939,482 in First Tranche of Non-Brokered Private Placement
Tajiri Raises $1,939,482 in First Tranche of
Non-Brokered Private Placement
VANCOUVER
,
July 19, 2018
/CNW/ - Tajiri Resources Corp. (the "Company") (TSX VENTURE:
TAJ) is pleased to announce that, subject to TSX Venture Exchange approval, it will close the first-
tranche of a non-brokered private placement originally announced
June 16
th
, 2018. The offering
resulted in proceeds to the Company of
$1,939,482
through the issuance of 13,853,443 units. Each
unit was priced at
$0.14
and consisted of one common share and one transferable common share
purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional
common share in the capital of the Company at
$0.24
for 36 months from the closing date, subject
to an accelerated expiry if the closing price of the Company's common shares is equal to or greater
than
$0.50
per share for ten consecutive trading days ("Acceleration Event"). The Company will give
notice to the warrant holders of the Acceleration Event (which notice may be by way of general
news release) and reduce the remaining exercise period of the warrants to not less than 30 days
following the date of such notice. The Company paid fees of
$122,607.23
on a portion of the offering
and, one insider of the Company participated in the placement subscribing for a total of 3,900,000
units (Please see accompanying news from Javelin Minerals Ltd and early warning report to be filed
on the Company's SEDAR page.)
Proceeds from the offering will be used for project related expenses at the recently acquired Reo
Gold Project ("Reo"),
Burkina Faso
,
West Africa
, including license renewal and relating costs as well
as initial exploration and general working capital. The Company will now commence a systematic
review of all historical exploration data completed at Reo by Middle Island and Newmont Mining to
assist in guiding the direction of the next exploration phase. Tajiri's maiden exploration program is
still in the early stages of planning but is expected to include trenching followed by RC and diamond
core drilling at both
Morley
and K4/K5.
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.
SOURCE
Tajiri Resources Corp.
View original content: http://www.newswire.ca/en/releases/archive/July2018/20/c8536.html
%SEDAR: 00027091E
For further information:
Tajiri Resources Corp., Graham Keevil, President, CEO, 604-642-0115
or, Toll Free 866-345-0115, 604-642-0116 (FAX), [email protected]
CO: Tajiri Resources Corp.
CNW 09:30e 20-JUL-18