VANCOUVER, July 26, 2019 /CNW/ - Tajiri Resources Corp. (the "Company") (TSX VENTURE: TAJ) is pleased to report that subject to final TSX Venture Exchange approval it will close on its previously announced private placement. The offering results in proceeds of CDN$310,000 through the issuance of 9,300,000 units priced at $0.05 per unit. Each unit consisted of one common share and one half of a common share purchase warrant, with each whole warrant allowing for the purchase of an additional common share at $0.17 for 24 months from the closing date. The warrants also carry an acceleration clause whereby if the shares of the Company trade at or over $0.30 for 10 consecutive trading days they must be exercised or will expire within one week.
Funds raised will be used for new acquisitions, ongoing project expenses, and general working capital. Fee's were paid on a portion of the offering in the amount of $9,600 and a Director of the Company subscribed for 2,000,000 units. All shares issued are subject to the exchanges mandatory four month and one day hold policy.
On Behalf of the Board,
Tajiri Resources Corp.
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.
For further information: Contact Information: Tajiri Resources Corp., Graham Keevil, President, CEO, 604-642-0115 or Toll Free 866-345-0115, 604-642-0116 (FAX), email@example.com