$500,000 Non-brokered Private Placement, Amends Kaburi PL Option Agreement
VANCOUVER, BRITISH COLUMBIA - (December 09th, 2013) - Tajiri Resources Corp. (the "Company") (TSX VENTURE: TAJ) is pleased to report that it will arrange a non-brokered private placement of 10,000,000 units at price of $0.05 per unit for proceeds of $500,000 to the Company.
Each unit will consist of one common share and one non-transferable share purchase warrant entitling the holder to purchase an additional common share in the capital of the company at a price of $0.10 for 18 months from the closing date. Proceeds from the financing will be used to continue exploration efforts on the Kaburi PL Gold Project and for general working capital purposes. Fees may be paid on a portion of the offering.
Additionally the Company is pleased to report that it has reached an agreement with Arrowhead Gold Corp. (the “Vendor) amending its option on the Kaburi PL Gold Property, the result of which will see the Company finalize its earning of a 100% interest in the project. Under the amended terms the Company will now issue 1,000,000 common shares to the Vendor in lieu of a past due cash payment of $50,000, issue 250,000 common shares to the Vendor as payment for its waiving of the year three (3) exploration expenditure commitments and make final cash payment of $50,000 CDN. As a result of the recent consolidation of the Company’s shares, those remaining share based payments that were part of the original option will be issued on a post-consolidated basis (5:1) and would therefore amount to 400,000 common shares. Therefore total and final share based payments to be issued to the Vendor in exchange for 100% interest in the Kaburi PL Gold Project would total 1,650,000 common shares. These in addition to the final $50,000 payment will finalize the Company’s acquisition of the Kaburi PL property and as a result end its dealings with the Vendor. The amended agreement is be subject to TSX Venture Exchange approval.
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.
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Contact Information:
Tajiri Resources Corp.
Graham Keevil President, CEO 604-642-0115 or Toll Free 866-345-0115 604-642-0116 (FAX)