Takara Resources Inc.
TSX VENTURE : TKK

Takara Resources Inc.

September 24, 2010 16:14 ET

Takara Announces Private Placement Offering

TORONTO, ONTARIO--(Marketwire - Sept. 24, 2010) -

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

Takara Resources Inc. (TSX VENTURE:TKK) ("Takara") announces a non brokered private placement offering for gross proceeds of up to $2,000,000 (the "Offering").

The Offering will comprise the sale of units ("Unit") at a price of $0.21 per Unit. Each Unit will consist of one common share ("Common Share") of Takara and one half of one non-transferable share purchase warrant ("Warrant"). Each full warrant entitles the holder to acquire an additional Common Share at a price of $0.29 at any time within 18 months of issuance.

Subject to approval by the TSX Venture Exchange and applicable securities legislation, Takara may pay brokers or other third parties (a "Finder") a 6% cash finder's fee.

The Unit will be offered to qualified purchasers resident of any Canadian Province, in reliance upon exemptions from the prospectus and registration requirements of applicable securities legislation. The Offering is subject to certain conditions, including regulatory approval. 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. The proceeds from the sale of each Unit will be for working capital purposes and to undertake the ongoing work program on Takara's Guyana Gold Projects. Insiders of Takara may participate in the Offering. The closing of the Offering is expected to occur on or about September 30, 2010.

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.

About Takara

Takara Resources Inc. is a Canadian based (TSX VENTURE:TKK) is a gold company focused on the exploration and development of its Guyana gold assets held within a wholly-owned subsidiary, StrataGold Guyana Inc., including two advanced-stage gold projects within the Guyana Shield, namely: (i) the 100% owned Tassawini Gold Project; and (ii) a 30% interest in the BRL Venture operated by Newmont Overseas Exploration Limited, a subsidiary of Newmont Mining Corporation (NYSE:NEM) and holding a 70% interest in the project.

Statement Regarding Forward Looking Information 

This news release of Takara Resources Inc. (the "Company") contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as such information constitutes a prediction of what might be found to be present when and if a project is actually developed. Forward-looking statements in this document include statements regarding: the Company's expectations regarding drilling and exploration activities on properties in which the Company has an interest; and the Company's statements regarding estimates of resources on properties in which the Company has an interest.
There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of their respective dates. Important factors that could cause actual results to differ materially from the Company's expectations include among others, risks related to fluctuations in mineral prices; uncertainties related to raising sufficient financing to fund planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; uncertainties involved in the estimation of resources; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from the Company's operations; risks associated with title to mineral properties; and other risks and uncertainties discussed and in the Company's most recent MD&A's filed on SEDAR and elsewhere in the Company's documents filed from time to time with the Toronto Venture Exchange and Canadian securities regulators. These statements are based on a number of assumptions, including assumptions regarding general market conditions, the availability of financing for proposed transactions and programs on reasonable terms, and the ability of outside service providers to deliver services in a satisfactory and timely manner. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as expressly required by applicable securities laws, the Corporation undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. 

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Further, 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 news release.

Contact Information

  • Takara Resources Inc.
    Jennifer L. Boyle, B.A., LL.B.
    President & Chief Executive Officer
    (647) 430-0966 (work) or (416) 904-2714 (cell)
    or
    Takara Resources Inc.
    Pamela Strand, P. Geol.
    Executive Vice President
    (780) 435-0045 (work) or (780) 903-0820 (cell)