VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 1, 2016) - Tajiri Resources Corp. (the "Company") (TSX VENTURE:TAJ) is pleased to report that it has received CDN$316,666.50 following the exercise of 6,333,333 warrants issued as part of a private placement completed on the 04th of November 2015.
The warrants which would expire November 05th, 2016 were priced at $0.05 per warrant, and exercised by Company Directors: Dr. Anthony Norman (2 million), Mr. Robert Power (2 million), and Mr. Dominic O'Sullivan (2,333,333) for investment purposes. Funds received by the Company will be used for property acquisitions in Guyana, South America, where management has spent the past several months reviewing new opportunities, exploration, and general corporate purposes.
Following the exercise of 2,333,333 warrants Mr. O'Sullivan beneficially controls 10,666,666 common shares of the Company or 32% of the issued and outstanding shares on a fully diluted basis. Mr. O'Sullivan acquired the shares for investment purposes, and may in the future acquire, or dispose of, additional common shares at his discretion. An early warning report detailing the transaction, as it relates to Mr. O'Sullivan, will be filed on the Company's SEDAR profile following this announcement.
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.