VANCOUVER, BC, Nov. 16,
2023 /CNW/ - Tajiri Resources Corp. (the
"Company") (TSXV: TAJ) is pleased to report that subject to
approval of the TSX Venture Exchange it will close a non-brokered
private placement originally announced October 4th, 2023.
Proceeds from the placement totaled CDN$90,000 through the issuance of 4,500,000
shares at a price of $0.02 per common
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
per cent of the market valuation of the Company and 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 Exchange and as such is providing a brief on the
use of proceeds raised. The funds will be used for corporate
purposes more specifically for ongoing working capital and expenses
associated with the continued listing requirements of the Company;
this includes maintaining of the Company's transfer agent, ongoing
listing fee's, newswire service provider, SEDAR+ filing services
and other corporate requirements as they become due. 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. Nonparticipating Non-Arm's Length
parties may receive payments based on consulting work provided in
the form of management services relating to the administration of
Company affairs. All shares issued will be subject to the Exchanges
mandatory 4 month and 1 day hold period, and the Company paid
finders fees of CDN$2,100 on a
portion 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.
SOURCE Tajiri Resources Corp.