Tajiri to Raise $2,000,000 for Reo Gold Project, Burkina Faso VANCOUVER
Tajiri to Raise $2,000,000 for Reo Gold Project,
Burkina Faso
VANCOUVER
, June 19, 2018 /CNW/ -
Tajiri Resources Corp.
(the "Company")
(TSX VENTURE:
TAJ)
reports that subject to TSX Venture Exchange approval it will raise by way of non-brokered
private placement up to
CDN$2,000,000
by issuing 14,285,714 units at a price of
$0.14
per unit.
Each will consist of one common share and one common share purchase warrant. Each warrant will
entitle the holder to purchase an additional common share at
CDN$0.25
for a period of 36 months
from the closing date;
provided that
in the event the closing price of the Issuer's common shares on
the Exchange is equal to greater than
$0.50
per share for ten consecutive trading days at any time
following four months after the date of Closing, the Issuer may, by notice to the Warrant holders
(which notice may be by way of general news release), reduce the remaining exercise period of the
Warrants to not less than 30 days following the date of such notice.
The certificates representing the Warrants will, among other things, include provisions for the
appropriate adjustment in the class, number and price of the Warrant Shares issued on exercise of
the Warrants upon the occurrence of certain events, including any subsequent subdivision,
consolidation or reclassification of the Issuer's common shares, the payment of stock dividends and
the amalgamation of the Issuer.4
Warrants may not be exercised if to do so would cause the Subscriber to become a control person
of the Issuer (holding 20% or more of the outstanding voting Shares of the Issuer), until the
shareholders of the Issuer approve of such change of control at a duly called meeting of
shareholders; and the Warrant certificates will contain language to such effect. Fee's may be paid
on portions of the offering in the amount of 8% or as individually negotiated between the placing
agent and the Company.
The funds raised through the placement will be used for exploration and development work at the
recently acquired Reo Gold Project,
Burkina Faso
,
West Africa
, and related corporate expenses
including working capital and administration. The Company hopes to close the offering as soon as
possible and begin planning for exploration efforts to begin. In the same fashion. The plan, though
preliminary in nature, is to begin with additional trenching at the K4/K5 zone, as well as, on the
lesser defined
Morley
prospect, where historical results have typically returned higher-grade
mineralization generalized by hole MRRC001 which assayed 17 metres of 36.4 g/t Au from 2
metres. Following the trenching, several thousand metres of RC and
Diamond Drilling
would be
undertaken on previously untested deep targets at K4/K5, as well as step out drilling at both
Morley
and K4/K5 to grow the existing mineralized footprint of the two most advanced targets within the
Reo licenses. The overall goal will be to illustrate improved size and grade potential for K4/K5 and
further define the size potential at the
Morley
prospect, with success the Company will have
immediately provided clear enhancement to the economic potential of the Reo project and paved the
way for a targeted resource defining drill effort.
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:
Contact Information: Tajiri Resources Corp., Graham Keevil, President,
CEO, 604-642-0115, [email protected]
CO: Tajiri Resources Corp.
CNW 16:06e 19-JUN-18