VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 1, 2016) - Tajiri Resources Corp. (the "Company") (TSX VENTURE:TAJ) is pleased to report that finale acceptance of the previous announced Non-Brokered Private Placement has been received from the TSX Venture Exchange, officially closing the offering.
Additionally the first tranche of the placement was also given final approval, it raised proceeds of $106,500 in proceeds for a total offering of with gross proceeds to the Company of CDN$1,246,500 through the issuance of 12,246,500 units. The units were consistent of a common share and half purchase warrant, priced at $0.10 and $0.20 respectively. The Second tranche consisted of 11,400,000 units being issued with the same terms as above and are included in the above figure.
Finally the Company has received TSX Venture approval of a debt settlement arrangement, that will see the Company issued 2,294,290 common shares to settle $229,429 in Debt. This will clear the Company's future liabilities, and the agreements were reached with management of the Company, who had been owed three years of accrued fees. The election to receive equity is a testament to the strong belief by the Tajri team in their long term view of Company plans and potential future value of shares.
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.