Tajzha Ventures Ltd.
TSX VENTURE : TJZ

Tajzha Ventures Ltd.

March 22, 2007 12:41 ET

Tajzha Ventures Ltd.: Revised Private Placement Financing and Closing of First Tranche

CALGARY, ALBERTA--(CCNMatthews - March 22, 2007) -

NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Further to the Press Release dated February 7, 2007 announcing a non-brokered Private Placement of units ("Units") and ("Flow-Through Units"), Tajzha Ventures Ltd. (the "Corporation") (TSX VENTURE:TJZ) wishes to announce revised terms for the Private Placement.

The Company intends to issue up to 3,333,333 Units of the Company at a subscription price of $0.30 per Unit or up to 2,857,143 Flow-Through Units at a subscription price of $0.35 per Flow-Through Unit, or any combination of Units and Flow-Through Units, for gross proceeds of up to $1,000,000. Each Unit consists of one (1) common share ("Common Share") in the share capital of the Company and one (1) common share purchase warrant ("Warrant"). Every one (1) Warrant Corporation is exercisable on or before two (2) years from the initial closing date exercisable at the price of $0.35 per Common Share in the first year and at the price of $0.40 per Common Share in the second year. Each Flow-Through Unit consists of one (1) Common Share, issued on a "flow-through share" basis, in the share capital of the Company and one (1) Warrant. Every one (1) Warrant is exercisable on or before two (2) years from the initial closing date exercisable at the price of $0.40 per Common Share in the first year and at the price of $0.45 per Common Share in the second year. All other terms and conditions as set out in news release date February 7, 2007, will remain the same including all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

The Corporation is also pleased to announce that it has completed the first tranche of its previously announced brokered private placement on March 20, 2007, and has issued 287,000 Flow-Through Units for the aggregate consideration of $100,450. The Flow-Through Shares and Warrants are subject to a hold period of four months, expiring July 21, 2007.

Proceeds from the offering will be used to finance ongoing exploration and development of the Corporation's oil and natural properties and for general working capital. Proceeds from the issue of Flow-Through Shares will be used for general exploration expenditures, which will constitute Canadian exploration expenses, as defined in the Income Tax Act (Canada), and will be renounced for the 2007 taxation year.

The Company is a junior oil and natural gas company based in Calgary, Alberta with core natural gas properties located in the Provost Area, Alberta and a high impact drilling venture located in North-eastern British Columbia. The Company's Common Shares trade on the TSX Venture Exchange under the symbol "TJZ".

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Tajzha Ventures Ltd.
    Ronnie D. Doman
    (250) 246-4791
    or
    Tajzha Ventures Ltd.
    Terry O. Lashman
    (604) 684-7929 or 1-800-665-2454