Takara Resources Inc.
TSX VENTURE : TKK

Takara Resources Inc.

December 14, 2009 09:40 ET

Takara Closes Non-Brokered Private Placement

TORONTO, ONTARIO--(Marketwire - Dec. 14, 2009) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

Takara Resources Inc. (TSX VENTURE:TKK) ("Takara" or the "Company") announces that it has completed a non-brokered private placement (the "Offering") by the issuance of 11,666,667 common shares at $0.03 per share for gross proceeds of $350,000. The Offering was made in reliance upon applicable exemptions from registration and prospectus exemptions. In connection with the Offering, the Company paid cash finder's fees totalling $14,296 to arms-length finders. The common shares issued pursuant to the Offering are subject to a four month hold period from the date of issuance, including any other resale restrictions imposed by applicable securities regulatory authorities.

Proceeds from the Offering will be used to further Takara's efforts in respect of the acquisition of the two advanced stage gold projects within the Guyana Shield, Guyana, namely: (i) the Tassawini Gold Project; and (ii) the BRL Venture (see News Release dated November 13, 2009) and for general working capital.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Takara Resources Inc.
    Pamela Strand, P. Geol.
    President
    (780) 435-0045 (work)
    or
    Takara Resources Inc.
    Jennifer L. Boyle, B.A., LL.B.
    Chief Executive Officer
    (647) 430-0966 (work)
    (416) 904-2714 (cell)