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Tajiri Receives Conditional Approval of Non-Brokered Private Placement, Clarifies Use of Funds
Tajiri Receives Conditional Approval of Non-Brokered Private Placement, Clarifies Use of Funds ...
About this update from Tajiri Resources Corp.
[{"type":"text","content":"\n \n \n \n Tajiri Receives Conditional Approval of Non-Brokered Private Placement, Clarifies Use of Funds\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Aug. 15, 2023\n \n \n /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\n \n $350,000\n \n through issuance of shares priced at\n \n $0.035\n \n . It has also received final approval and closed the first tranche of the private placement for proceeds of\n \n $136,850\n \n 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\n \n $0.05\n \n 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\n \n US$30,000\n \n will be used for the payment of renewals on certain permits that make up the Company's 100% owned Reo Gold Project in\n \n Burkina Faso\n \n ,\n \n West Africa\n \n . 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.\n \n \n \n \n \n \n \n \n \n On Behalf of the Board,\n \n \n Tajiri Resources Corp.\n \n \n \n...