Tajiri Receives Conditional Approval of Non- Brokered Private Placement, Clarifies Use of Funds
Tajiri Receives Conditional Approval of Non-
Brokered Private Placement, Clarifies Use of
Funds
VANCOUVER, BC
,
Aug. 15, 2023
/CNW/ - Tajiri Resources Corp. (the "Company") (TSXV: TAJ) is
reporting that it has received conditional TSX Venture Exchange approval for its previously
announced non-brokered private placement of
$350,000
through issuance of shares priced at
$0.035
. It has also received final approval and closed the first tranche of the private placement for
proceeds of
$136,850
through the issuance of 3.91 million shares. Insider participation totalled 1.6
million shares in the first tranche which constitutes a related party transaction, the Company is
protected from certain obligations due to rules under Multilateral Instrument 106 whereas the
purchases do not exceed 25 per cent of the market valuation of the company therefore shareholder
approval was not required in this case. As the financing is below
$0.05
the Company is relying on
the minimum pricing exemption provided by the TSX Venture and is providing a brief on the use of
proceeds being raised. Approximately
US$30,000
will be used for the payment of renewals on
certain permits that make up the Company's 100% owned Reo Gold Project in
Burkina Faso
,
West
Africa
. In addition, a portion will be used to pay the Company's ongoing administrative expenses
associated with its operations in the Country. The remainder will be used for ongoing working capital
and expenses associated with the continued listing requirements of the Company; none of the funds
raised will be used to pay any debt outstanding to placee's participating in the offering or for
payment to those engaged in Investor Relations activities. The Company will provide additional
updates on the closing of the second and final tranche of the offering.
On Behalf of the Board,
Tajiri Resources Corp.
Graham Keevil
,
President & CEO
About Tajiri
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
. Lead by a team of industry professionals
with a combined 100 plus years' experience the Company continues to generate shareholder value
through exploration.
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.
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.
www.tajirigold.com
SOURCE
Tajiri Resources Corp.
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For further information:
Tajiri Resources Corp., Graham Keevil, President, CEO, 778-229-9602,
CO: Tajiri Resources Corp.
CNW 15:38e 15-AUG-23