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Tarachi Gold Announces Closing of Non-Brokered Private Placement
VANCOUVER, BC, Oct. 28, 2021 /CNW/ - Tarachi Gold Corp. (CSE: TRG) (OTCQB: TRGGF) (Frankfurt: 4RZ) ("Tarachi" or the "Company") is pleased to announce that it h
About this update from Tarachi Gold Corp.
[{"type":"text","content":" VANCOUVER, BC, Oct. 28, 2021 /CNW/ - Tarachi Gold Corp. (CSE: TRG) (OTCQB: TRGGF) (Frankfurt: 4RZ) (\"Tarachi\" or the \"Company\") is pleased to announce that it has completed its non-brokered private placement previously announced on October 6, 2021. The Company issued a total of 4,396,667 common shares (the \"Shares\") at a price of $0.15 per Share to raise gross proceeds of $659,500.05 (the \"Private Placement\"). The Company paid cash finder's fees equal to C$9,000 and issued 60,000 broker warrants of the Company, exercisable at any time on or before October 28, 2022, to acquire that number of common shares in the capital of the Company at an exercise price of C$0.35. The securities issued pursuant to the Offering have a hold period of four months and one day from closing, expiring on March 1, 2022. Proceeds of the Private Placement will be used for general working capital. About Tarachi Gold Tarachi Gold is a Canadian-listed junior gold exploration company focused on exploring and developing projects in Mexico. Tarachi acquired the Magistral Mill and tailings project in Durango, Mexico in 2021. Magistral includes a 1,000 tpd mill and access to a tailings resource (non-compliant with NI 43-101) estimated to contain 1.29Mt at 2.06g/t Au which the Company expects to bring into production in 2022. The historical estimate was completed by Corporation Ambiental de Mexico S.A. de C.V. (CAM) in 2011 which helped only in determining the drill collar locations of the Company's recently completed drilling program as part of the ongoing Magistral preliminary economic assessment (PEA). Tarachi's qualified person has not done sufficient work to classify the historical estimate as a current mineral resource or mineral reserves. The issuer is not treating the historical estimate as a current mineral resource or mineral reserves. The Company also has exploration projects covering 3,708ha of highly prospective mineral concessions in the Sierra Madre gold belt of Sonora, Mexico in close proximity to Alamos Gold's Mulatos mine and Agnico Eagle's La India mine. 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 sec...