VANCOUVER, BC, November 16, 2023 /CNW/ – Tajiri Resources Corp. (the “Company”) (TSXV: TAJ) is pleased to announce that, subject to approval by the TSX Venture Exchange, it will close an initially announced non-brokered private placement October 4th2023.
Total investment proceeds CAN$90,000 by the issue of 4,500,000 shares at the price of $0.02 per ordinary share. A director of the Company subscribed for 1,000,000 shares, which constitutes a related party transaction. However, the Company is protected from certain obligations under the rules of Multilateral Instrument 106 due to the purchase not exceeding 25 percent of the market valuation of the Company and therefore shareholder approval. was not necessary in this case.
As the funding is below $0.05 The Company relies on the minimum price exemption provided by the TSX Venture Exchange and, as such, provides a memorandum on the use of the proceeds raised. The funds will be used for corporate purposes, more specifically for ongoing working capital and expenses associated with the Company’s ongoing listing requirements; this includes maintaining the company’s transfer agent, ongoing registration fees, wire service provider, SEDAR+ filing services and other company requirements as they become payable. None of the funds raised will be used to pay any outstanding debt owed to beneficiaries participating in the offering or for the payment of those engaged in investor relations activities. Non-arm’s length non-participating parties may receive payments based on consulting work provided in the form of management services related to the administration of the Company’s affairs. All shares issued will be subject to a mandatory holding period of 4 months and 1 day on the stock exchange, and the Company has paid intermediation fees of $2,100 CAN on part of the offering.
On behalf of the board of directors,
Tajiri Resources Corp.
President and CEO
Tajiri Resources Corp. is a junior gold exploration and development company with exploration assets located in two of the world’s least explored and most prospective greenstone belts. Burkina Faso, West Africa And Guyana, South America. Led by a team of industry professionals with over 100 years of experience, the Company continues to generate shareholder value through exploration.
This press release may contain forward-looking statements that are based on management’s assumptions and judgments regarding future events or results. These statements are subject to various risks and uncertainties that 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 these 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 Jiri Resources Corp.
For more information: Tajiri Resources Corp., Graham Keevil, President and CEO, 778-229-9602, (email protected)www.tajirigold.com