VANCOUVER, British Columbia, Oct. 9, 2024 /CNW/ – Tajiri Resources Corporation (the “Company”) (TSXV: TAJ) has received conditional approval from the TSX Venture Exchange (“TSXV”) to , closed the first tranche of its previously announced non-brokered private unit offering (the “Offering”) on September 23, 2024.
Tajiri Resources Co., Ltd. Logo (CNW Group/Tajiri Resources Co., Ltd.)
The first tranche of the offering will consist of 9,900,000 units at a price of $0.05 per unit and gross proceeds of $495,000. Each Unit consisted of one common share (each, a “Common Share”) and one common stock purchase warrant (each, a “Warrant”). Each Stock Acquisition Rights may be exercised by the holder to obtain one Common Share at a price of $0.10 until October 4, 2027, subject to the Acceleration Rights (as defined herein). If the closing price of our common stock on the TSXV for any 10 consecutive days after the date of this document is $0.25 or more, we have the right to accelerate the expiration date upon written notice to the holders of stock acquisition rights. Masu. Stock Acquisition Rights will expire on the 30th day following the date of notice provided by news release (“Acceleration Rights”). In connection with this offering, we paid an aggregate of $32,550 in cash to certain finders and issued 651,000 warrants in consideration for introducing certain purchasers to us. In accordance with applicable Canadian securities laws, all securities issued and issuable in connection with the first tranche of the Offering will be subject to a four-month hold period.
The Company intends to use the net proceeds from the initial public offering for exploration and development of the Company’s mineral resources and for general working capital purposes. In addition, a portion of the proceeds raised pursuant to the first tranche of the Offering will be used to finance various investments related to the Company’s planned acquisition of Yono Gold Properties (the “Project”) previously announced on July 18, 2024. Used to complete requirements. The Company will use the proceeds to complete an independent report on the Project prepared in accordance with National Instrument 43-101 – Disclosure Standards for Mineral Projects (the “Technical Report”). Proceeds will also be used to pay for various documentation, legal fees, mailing costs, and other corporate expenses related to project acquisitions. Our total cost is expected to be $30,000. Proceeds from the second tranche of the offering will not be used for project acquisitions and the offering remains subject to final TSXV and regulatory approvals.
The Company is committed to meeting the TSXV requirements for project acquisition pursuant to Section 5.7 of TSXV Policy 5.3. To obtain final approval from the TSXV, the Company will submit a technical report and financial plan demonstrating sufficient resources to cover the first phase of its obligations and recommended work program for a period of six months post-closing. Evidence supporting the evaluation of the transaction is also provided through the Company’s due diligence or through disinterested shareholder approval.
The transaction agreement governing the acquisition of the project has been filed with the TSXV and any material changes are subject to further TSXV approval. The personal information forms required for certain insiders have been approved by the TSXV and final completion is subject to their completion and approval. A legal title opinion will also be required confirming Nebula Resources Inc.’s authority to transfer the project interest.
We will provide status updates through follow-up news releases at 30- and 90-day intervals. Final approval of the TSXV will also require disinterested stockholder approval, including a final news release and a resolution of disinterested directors. The remaining filing fee of $14,700 will be transferred to the TSXV.
On behalf of the Board of Directors,
Tajiri Resources Co., Ltd.
Graham Keevil
Representative Director and President
About Tajiri Resources Co., Ltd.
Tawari Resources Corp. is a junior gold exploration and development company with exploration assets in two of the world’s most underexplored and highly prospective greenstone belts: Burkina Faso in West Africa and Guyana in South America. Led by a team of industry experts with more than 100 years of combined experience, we continue to create shareholder value through exploration.
www.tawarigold.com
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. the expected size of the second tranche, the anticipated use of the proceeds of the offering, the expected completion date of the second tranche of the offering, the acquisition of the final project and the receipt of necessary and related approvals therefor; All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Any statements that include predictions, expectations, beliefs, plans, projections, objectives, assumptions, discussions of future events or performance (including, but not always, phrases such as “expects,” “does not expect,” “anticipates,” etc.) ), “anticipate” or “not anticipate”, “plan”, “budget”, “scheduled”, “forecast”, “estimate”, “believe”, or ” “intended” or variations of such words or phrases, or expressing a particular action, event or result, “may”, “likely”, “will” occur or be achieved. “may” or “will” may be forward-looking statements that are not statements of historical fact.
Forward-looking statements involve known and unknown risks and uncertainties and may cause our actual results, performance or achievements to be different from any future results, performance or achievements expressed or implied by the forward-looking statements. There are other factors that can cause significant differences. The forward-looking statements contained herein are made as of the date of this news release and, except as required by law, the Company does not anticipate any future events, circumstances, future events or management’s expectations. whether estimates or opinions should be changed 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, readers are cautioned not to place undue reliance on forward-looking statements.
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 Tajiri Resource Co., Ltd.
Sision
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