VANCOUVER, July 19, 2018 /CNW/ - Tajiri Resources
Corp. (the "Company") (TSX VENTURE: TAJ) is pleased to
announce that, subject to TSX Venture Exchange approval, it will
close the first-tranche of a non-brokered private placement
originally announced June
16th, 2018. The offering resulted in proceeds to
the Company of $1,939,482
through the issuance of 13,853,443 units. Each unit was priced at
$0.14 and consisted of one common
share and one transferable common share purchase warrant. Each
whole warrant will entitle the holder thereof to purchase one
additional common share in the capital of the Company at
$0.24 for 36 months from the closing
date, subject to an accelerated expiry if the closing price of the
Company's common shares is equal to or greater than $0.50 per share for ten consecutive trading days
("Acceleration Event"). The Company will give notice to the warrant
holders of the Acceleration Event (which notice may be by way of
general news release) and reduce the remaining exercise period of
the warrants to not less than 30 days following the date of such
notice. The Company paid fees of $122,607.23 on a portion of the offering and, one
insider of the Company participated in the placement subscribing
for a total of 3,900,000 units (Please see accompanying news from
Javelin Minerals Ltd and early warning report to be filed on the
Company's SEDAR page.)
Proceeds from the offering will be used for project related
expenses at the recently acquired Reo Gold Project ("Reo"),
Burkina Faso, West Africa, including license renewal and
relating costs as well as initial exploration and general working
capital. The Company will now commence a systematic review of all
historical exploration data completed at Reo by Middle Island and
Newmont Mining to assist in guiding the direction of the next
exploration phase. Tajiri's maiden exploration program is still in
the early stages of planning but is expected to include trenching
followed by RC and diamond core drilling at both Morley and K4/K5.
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.