VANCOUVER, BC, Aug. 15,
2023 /CNW/ - Tajiri Resources Corp. (the "Company")
(TSXV: TAJ) is reporting that it has received conditional TSX
Venture Exchange approval for its previously announced non-brokered
private placement of $350,000 through
issuance of shares priced at $0.035.
It has also received final approval and closed the first tranche of
the private placement for proceeds of $136,850 through the issuance of 3.91 million
shares. Insider participation totalled 1.6 million shares in the
first tranche which constitutes a related party transaction, the
Company is protected from certain obligations due to rules under
Multilateral Instrument 106 whereas the purchases do not exceed 25
per cent of the market valuation of the company therefore
shareholder approval was not required in this case. As the
financing is below $0.05 the Company
is relying on the minimum pricing exemption provided by the TSX
Venture and is providing a brief on the use of proceeds being
raised. Approximately US$30,000 will
be used for the payment of renewals on certain permits that make up
the Company's 100% owned Reo Gold Project in Burkina Faso, West
Africa. In addition, a portion will be used to pay the
Company's ongoing administrative expenses associated with its
operations in the Country. The remainder will be used for ongoing
working capital and expenses associated with the continued listing
requirements of the Company; none of the funds raised will be used
to pay any debt outstanding to placee's participating in the
offering or for payment to those engaged in Investor Relations
activities. The Company will provide additional updates on the
closing of the second and final tranche of the offering.
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. Lead 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.
www.tajirigold.com
SOURCE Tajiri Resources Corp.
