VANCOUVER, BC, July 22, 2020 /CNW/ - Tajiri Resources
Corp. (the "Company") (TSX VENTURE: TAJ) is pleased to
announce that it will raise CDN$1.5
million by way of non-brokered private placement of
units.
The placement units will be priced at $0.15 per and consist of one common share, and
one common share purchase warrant. Each warrant will provide the
holder the right to acquire an additional common share at
$0.30 for a period of 24 months (two
years) from the closing date of the offering. The warrants will be
subject to an acceleration clause whereby in the event that the
common shares of the Company, as measured by the Volume Weighted
Average Price (or 'VWAP') over a three week period, trade at or
above $0.50 cents the Company may
provide notice(by way of standard press release) to the holders
that the warrants must be exercised within 30 days or expire.
The offering is subject to the final approval of the TSX Venture
Exchange, may include participation by insiders with funds being
used for acquisitions, exploration of the Company's high value gold
exploration assets, and general working capital. Fees may be
paid on portions of the offering.
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.