Tarku closes its Non-Brokered Private Placement
MONTREAL, Nov. 23, 2018 (GLOBE NEWSWIRE) — Tarku Resources Ltd. (TSX-V: TKU) (the “Company” or “Tarku”) is pleased to announce that it has closed the non-brokered private placement (the “Private Placement”) previously announced on November 1st, 2018 for gross proceeds of $283,550.
The private placement consisted of 7,250,000 non-flow through units of the Company at a price of $0.02 per unit ($145,000) and 4,618,331 Flow-Through Shares of the Company at a price of $0.03 per share ($138,550). Each non-flow through unit (a “Unit”) consists of one common share in the capital of the Company and one-half of one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire one common share at a price of $0.05 per common share for a period of eighteen (18) months ending May 23, 2021. Insiders of the Company subscribed for 1,675,000 non-flow through units and 266,666 Flow-Through Shares. The securities issued under this Private Placement are subject to a statutory four (4) month hold period ending March 23rd, 2019.
The net proceeds of the Private Placement will be used for purposes of working capital and to maintain and preserve its existing operations, activities and assets and for exploration expenditures on its current properties. The Private Placement has been conditionally accepted by the TSX Venture Exchange. No finder’s fee has been paid for this Private Placement.
About Tarku Resources Ltd. (TSX-V: TKU)
Tarku is an exploration company focused on generating sustainable projects for precious and base metals by conducting exploration in areas with strong geologic potential and high levels of social acceptability. Project generation is the foundation of mining development, and Tarku’s vision is to generate exploration projects with excellent potential for mining development for prospective partners or buyers.
Neither 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 press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku’s periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.
CONTACT: For more information, please visit the Company’s web site or contact: Julien Davy, President & CEO +1 (514) 618-7287 email@example.com www.tarkuresources.com