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Tarachi Gold and Prospector Portal Decide Not To Pursue Transaction; Tarachi Gold To Return Focus To Precious Metals
VANCOUVER, BC, Nov. 19, 2024 /CNW/ - Tarachi Gold Corp. (CSE: TRG) (OTCQB: TRGGF) (Frankfurt: 4RZ) ("Tarachi" or the "Company") announces that it's board and ma
About this update from Tarachi Gold Corp.
[{"type":"text","content":" VANCOUVER, BC, Nov. 19, 2024 /CNW/ - Tarachi Gold Corp. (CSE: TRG) (OTCQB: TRGGF) (Frankfurt: 4RZ) (\"Tarachi\" or the \"Company\") announces that it's board and management have decided to discontinue pursuit of a transaction with Prospector Portal Inc. (\"Prospector\" or collectively with Tarachi, the \"Parties\"). The exclusivity period of the non-binding LOI with Prospector originally dated August 2, 2024 (the \"LOI\") has expired and the Parties have decided not to extend or renew the LOI. Tarachi will return its focus to precious metals exploration and is actively looking at potential projects and transactions. \"After extensive consultation with our shareholders, the decision was made not to move forward with the Prospector transaction and return to our company roots in mineral exploration\" commented Cameron Tymstra, Tarachi President and CEO. \"With more than $3M in hard cash on hand and no obligations, Tarachi is well positioned to take advantage of other opportunities in the precious metals space and reviews of some projects are already underway. We continue to believe that Prospector's suite of AI-powered products is invaluable to industry participants like ourselves and we look forward to using them to aide in our search for the next great mineral discovery.\" About Tarachi Gold Corp. Tarachi is a Canadian-listed company focused on creating shareholder value through exposure to high-growth potential commodity projects and investments. SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS This news release includes certain \"Forward‐Looking Statements\" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and \"forward‐looking information\" under applicable Canadian securities laws. When used in this news release, the words \"anticipate\", \"will\", \"believe\", \"estimate\", \"expect\", \"hope\", \"target\", \"plan\", \"forecast\", \"may\", \"would\", \"could\", \"schedule\", \"potential\" and similar words or expressions, identify forward‐looking statements or information. These forward‐looking statements or information relate to, among other things: review of other projects or opportunities, and completing future transactions in the precious metals sector. Forward‐looking statements and forward‐looking information relating to any future mineral production, liquidity, timing of compl...