Le Lézard
Classified in: Mining industry
Subject: PVP

Tarku closes a $ 785,100 Private Placement

MONTREAL, Aug. 14, 2020 /CNW/ - Tarku Resources Ltd (TSX-V: TKU) (the "Company" or "Tarku") is pleased to announce that it has closed a non-brokered private placement (the "Private Placement") for aggregate gross proceeds of $785,100 ("the Offering").

The Private Placement was comprised of 12,078,457 non-flow through units ("Unit") of the Company at a price of $0.065 per unit. Each Unit consists of one common share of the Company and one common share purchase warrant ("Warrant"). Each Warrant entitles the holder to acquire one common share at a price of $0.085 per common share for a period of twenty-four (24) months expiring August 13, 2022. The securities issued under this Private Placement are subject to a statutory four (4) month hold period ending December 14, 2020.

The net proceeds of the Private Placement will be used to fund the Company's gold and precious metals exploration projects and for general working capital purposes. The Private Placement has been conditionally accepted by the TSX Venture Exchange. The Company paid finders' fees $12,100 in connection with the Private Placement. Insiders of the Company subscribed for 869,230 Units.

About Tarku Resources Ltd. ( : TKU)

Tarku is an exploration company focused on the "Three A's" exploration projects, (Apollo, Admiral and Atlas Projects), in the Matagami greenstone belt, which has been interpreted by management as the eastern extension of the Detour Belt in Quebec, and which has seen recent exploration successes by Midland Exploration Inc., Wallbridge Mining Company Ltd. and Probe Metals Inc.

Project generation is the foundation of creation wealth in the mining business. Tarku is interested in generating sustainable projects by conducting exploration in areas with strong geologic potential and high levels of social acceptability within Québec, and projects that can be explored and developed quickly with the support of the community. Tarku has 28,074,038 outstanding shares, of which approximately 80% are owned by insiders and major shareholders. Management is currently reviewing several opportunities and projects to build up the Company portfolio and generate shareholder value.

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.

SOURCE Tarku Resources Ltd.

These press releases may also interest you

at 13:55
Albemarle Corporation , a leader in the global specialty chemicals industry, announced today Eric Norris, President, Lithium, Meredith Bandy, Vice President, Investor Relations and Sustainability, and Sharon McGee, Vice President, Investor Relations...

at 13:35
Kutcho Copper Corp. ("Kutcho Copper" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement (the "Private Placement") of 11,000,000 units (each, a "Unit") at a price of $0.20 per Unit for...

at 13:30
Ameriprise Financial Inc. today announced that 14 of the firm's financial advisors were named to the Barron's list of "Top Independent Advisors," representing a 40% increase over 2019. Each year, Barron's publishes the list recognizing the top 100...

at 12:46
AEM Canada Group Inc. (AEM Canada) is pleased to announce the nomination of Mr. Charles Taschereau as President and COO of the company. AEM Canada is a recently founded subsidiary of Australian, Gulf Minerals Pty and a consortium of professional...

at 11:15
Akamai Technologies, Inc. , the intelligent edge platform for securing and delivering digital experiences, announced today that it was named a Leader in The Forrester Wavetm: Zero Trust eXtended Ecosystem Platform Providers, Q3 2020 evaluation....

at 11:09
- ESV Resources to change name to Denarius Silver Corp. as it turns attention to becoming a silver focused company, looking to offer shareholders exposure and leverage to the precious metal - Guia Antigua Project, a past silver producer adjacent to...

News published on 14 august 2020 at 13:02 and distributed by: