VANCOUVER, BC, Nov. 29, 2021 /CNW/ - Tajiri Resources Corp. (the
"Company") (TSXV: TAJ) is pleased to announce that it has received
acceptance from the TSX Venture Exchange (the 'Exchange') and will
close its previously announced non-brokered private placement for
proceeds of $869,999.94 through the
issuance of 14,499,999 units. This will be the only and final
tranche of this placement.
The oversubscribed offering will see the Company issue the units
at $0.06 per, with each unit
consisting of one common share and one common share purchase
warrant. Each warrant is exercisable into an additional common
share at a price of $0.10 for 36
months from closing. Insiders subscribed for 3,134,999 units in the
offering and the Company will pay fees of $10,836 and issue 180,600 Broker Warrants to
Fidelity Clearing Canada, 483 Bay Street, Suite 200, Toronto, ON M5G 2N7 on a portion of the
offering. The broker warrants are non-transferable, otherwise bear
the same terms as those attached to the units and all securities
will be subject to a mandatory four month and one day hold period
from the date of issuance as required by Exchange Policy. Proceeds
will be used for ongoing exploration and development work at the
100% owned Reo Gold Project, Burkina
Faso, West Africa and
general corporate purposes.
Participation by insiders of the company in the offering will be
considered a related party transaction pursuant to Multilateral
Instrument 61-101 -- Protection of Minority Security Holders in
Special Transactions. The company will be exempt from the
requirements to obtain a formal valuation or minority shareholder
approval in connection with the insiders' participation in the
offering in reliance of sections 5.5(a) and 5.7(1)(a) of MI
61-101.
On Behalf of the Board,
Tajiri Resources Corp.
Graham Keevil,
President & CEO
About Tajiri
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.
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.
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.