VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 12, 2016) - Tajiri Resources Corp. (the "Company") (TSX VENTURE:TAJ) is pleased to report that it has received CDN$150,000 following the exercise of 3,000,000 warrants issued as part of a private placement completed on the 04th of November 2015.
The warrants which expire November 04th, 2016 were priced at $0.05 per warrant and were exercised by a Private Company controlled by a Director of the Company for investment purposes. Funds received will be used for property acquisitions in Guyana, South America, where management has spent the past several months reviewing new gold opportunities that will compliment the 100% owned Kaburi Gold Project, and create additional value for stakeholders. The Company hopes to build its land position in Guyana along highly prospective greenstone contacts where alluvial mining operations are prevalent, and the potential for hard rock gold discoveries, are of the highest order, similar to the strategy employed by Azimuth Resources prior to its acquisition by Troy Resources for some CDN$188 million in 2013.
Following the exercise Company Chairman, and Director, Mr. Dominic O'Sullivan will beneficially control 8,333,333 common shares and 2,333,333 warrants priced at $0.05 per warrant or 26% of the Company on a partially-diluted basis. The shares were acquired for investment purposes and Mr. O'Sullivan may, at his discretion, acquire additional, or dispose of additional common shares in the future.
On Behalf of the Board,
Tajiri Resources Corp.
Graham Keevil, President, CEO
Neither the 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.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.