Takara Resources Inc.
TSX VENTURE : TKK

Takara Resources Inc.

September 30, 2009 16:59 ET

Takara Resources Inc.: Private Placement

TORONTO, ONTARIO--(Marketwire - Sept. 30, 2009) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

Takara Resources Inc. (TSX VENTURE:TKK) ("Takara" or the "Company") announces a non-brokered offering of up to 11,666,667 common shares on a private placement basis at a price of $0.03 per share (the "Offering"), for total gross proceeds of up to Cdn$350,000.

The Offering will be made to residents of any Canadian Province in reliance upon applicable exemptions from registration and prospectus exemptions. The closing of the Offering is expected to occur on or about October 30, 2009 and is subject to receipt of all necessary regulatory and stock exchange approvals. The securities issued upon the closing of the Offering will be subject to a four month hold period from the date of issue, including any other re-sale restrictions imposed by applicable securities regulatory authorities.

Proceeds from the offering will be used to further Takara's efforts in project acquisitions and for general working capital.

Subject to approval by the TSX Venture Exchange and applicable securities legislation, a cash finders fee and or non-transferrable share purchase warrants may be paid to brokers or third parties in respect of the Offering.

All transactions contemplated herein are subject to securities regulatory approvals. The securities of Takara Resources Inc. have not been registered under the United States Securities Act of 1933, as amended, or the securities laws of any U.S. State, and may not be offered or sold in the United States or to any "US Person" (as defined in Regulation S under the Securities Act of 1933) absent registration or an exemption from registration.

Neither 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.

Contact Information

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