VANCOUVER, Dec. 17, 2019 /CNW/ - Tajiri Resources Corp. (the "Company") (TSX VENTURE: TAJ) is pleased to report that subject to final TSX Venture Exchange (the "Exchange") approval it will close the first tranche of a non-brokered private placement originally announced December 05th, 2019.
The first tranche of the placement will result of the Company issuing 2,950,000 units for net proceeds of CDN$147,500. Each unit was priced at $0.05 per, and consisted of one common share, and one half of one common share purchase warrant. Each whole warrant entitles the purchaser to acquire an additional common share in the capital of the Company at a price of $0.20 for a period of 24 months from the closing date. There were 11 subscribers in this tranche, and Pro Group participation in the offering was for 885,000 units. All securities issued will be subject to the Exchanges mandatory four month and one day hold period. The Company paid fee's in the amount of CDN$11,800 and will issue 118,000 broker warrants governed by the same terms as mentioned above.
Funds will be used to finance on-going project maintenance costs, evaluation of potential acquisitions, and general working capital. The Company will provide an update on closing of the second tranche of the placement as details become available.
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.
For further information: Tajiri Resources Corp., Graham Keevil, President, CEO, 604-642-0115 or Toll Free 866-345-0115, 604-642-0116 (FAX), [email protected]