MONTREAL, Aug. 14, 2020 /CNW/ - Tarku Resources Ltd
(TSX-V: TKU) (the "Company" or "Tarku") is pleased to announce that
it has closed a non-brokered private placement (the "Private
Placement") for aggregate gross proceeds of $785,100 ("the Offering").
The Private Placement was comprised of 12,078,457 non-flow
through units ("Unit") of the Company at a price of $0.065 per unit. Each Unit consists of one common
share of the Company and one common share purchase warrant
("Warrant"). Each Warrant entitles the holder to acquire one common
share at a price of $0.085 per common
share for a period of twenty-four (24) months expiring August 13, 2022. The securities issued under this
Private Placement are subject to a statutory four (4) month hold
period ending December 14, 2020.
The net proceeds of the Private Placement will be used to fund
the Company's gold and precious metals exploration projects and for
general working capital purposes. The Private Placement has been
conditionally accepted by the TSX Venture Exchange. The Company
paid finders' fees $12,100 in
connection with the Private Placement. Insiders of the Company
subscribed for 869,230 Units.
About Tarku Resources Ltd. ( : TKU)
Tarku is an exploration company focused on the "Three
A's" exploration projects, (Apollo, Admiral and Atlas
Projects), in the Matagami
greenstone belt, which has been interpreted by management as the
eastern extension of the Detour Belt in Quebec, and which has seen recent exploration
successes by Midland Exploration Inc., Wallbridge Mining Company
Ltd. and Probe Metals Inc.
Project generation is the foundation of creation wealth in the
mining business. Tarku is interested in generating sustainable
projects by conducting exploration in areas with strong geologic
potential and high levels of social acceptability within Québec,
and projects that can be explored and developed quickly with the
support of the community. Tarku has 28,074,038 outstanding shares,
of which approximately 80% are owned by insiders and major
shareholders. Management is currently reviewing several
opportunities and projects to build up the Company portfolio and
generate shareholder value.
Neither 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 Tarku Resources Ltd.
