Tajiri Resources Closes Oversubscribed Non- Brokered Private Placement
Tajiri Resources Closes Oversubscribed Non-
Brokered Private Placement
VANCOUVER, BC
,
Aug. 19, 2020
/CNW/ -
Tajiri Resources Corp.
(the "Company") (TSXV: TAJ)
is
pleased to report that subject to the final approval of the TSX Venture Exchange it will close a non-
brokered private placement originally announced
June 22nd, 2020
. The initial
$1.5 million
offering
was oversubscribed with gross proceeds now totaling
$3,159,945
.15 through the issuance of
21,066,301 units in the capital of the Company.
Each
$0
.15 unit was composed of one common share, and one common share purchase warrant.
The warrants are exercisable at
$0.30
for 24 months from the closing date, and carry an
acceleration facility - whereby should the Company's shares trade at or above the volume weighted
average price of
$0.50
for 15 consecutive trading days – the Company by way of normal press
release may call the warrants due within thirty days of such an announcement. Additionally, insider
participation included
Graham Keevil
(President/CEO) for
$19,500
,
Bilal Bhamji
(CFO) for
$15,000
and Javeline Minerals Ltd. (
Dominic O'Sullivan
, Executive Chairman) for
$75,000
. Total insider
participation in the offering amounted to
$109,500
. All Insiders made their investments solely for that
purpose and may increase or decrease these positions at any time.
Fees were paid to qualified finders on a portion of the offer in the amount of
$173,379.00
cash and
1,156,397 finders warrants. All warrants to be issued to finders are governed under the same terms
as those of the placement units, including the capacity to be called should the acceleration pricing
provision be triggered.
Graham Keevil
, President of Tajiri Resources noted "We are excited to have closed this offering in
short order and with demand being such that we regrettably will have to follow up with certain
parties later. However, we look forward to getting back to what the Company is truly all about,
creating value via exploration of potentially world class gold deposits. With our groups extensive
technical expertise and, management's ability to not only identify tier one gold assets, but actually go
out and acquire them, we expect exciting times ahead."
Funds from the placement will be used to further exploration and development work across the
Company's gold project portfolio, potential acquisitions, and for general working capital.
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.
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For further information:
Tajiri Resources Corp., Graham Keevil, President, CEO, 604-642-0115 or
Toll Free [email protected], www.tajirigold.com
CO: Tajiri Resources Corp.
CNW 13:51e 19-AUG-20