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.
