Tajiri Resources Corp. Closes $869,999 Non-Brokered Private Placement

VANCOUVER, BC, Nov. 29, 2021 /CNW/ - Tajiri Resources Corp. (the "Company") (TSXV: TAJ) is pleased to announce that it has received acceptance from the TSX Venture Exchange (the 'Exchange') and will close its previously announced non-brokered private placement for proceeds of $869,999.94 through the issuance of 14,499,999 units. This will be the only and final tranche of this placement.

The oversubscribed offering will see the Company issue the units at $0.06 per, with each unit consisting of one common share and one common share purchase warrant. Each warrant is exercisable into an additional common share at a price of $0.10 for 36 months from closing. Insiders subscribed for 3,134,999 units in the offering and the Company will pay fees of $10,836 and issue 180,600 Broker Warrants to Fidelity Clearing Canada, 483 Bay Street, Suite 200, Toronto, ON M5G 2N7 on a portion of the offering. The broker warrants are non-transferable, otherwise bear the same terms as those attached to the units and all securities will be subject to a mandatory four month and one day hold period from the date of issuance as required by Exchange Policy. Proceeds will be used for ongoing exploration and development work at the 100% owned Reo Gold Project, Burkina Faso, West Africa and general corporate purposes.

Participation by insiders of the company in the offering will be considered a related party transaction pursuant to Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company will be exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the insiders' participation in the offering in reliance of sections 5.5(a) and 5.7(1)(a) of MI 61-101.

On Behalf of the Board,
Tajiri Resources Corp.

Graham Keevil,
President & CEO

About Tajiri

Tajiri Resources Corp. is a junior gold exploration and development company with exploration assets located in two of the worlds least explored and highly prospective greenstone belts of Burkina Faso, West Africa and Guyana, South America.  Led by a team of industry professionals with a combined 100 plus years' experience the Company continues to generate shareholder value through exploration.

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.

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.

SOURCE Tajiri Resources Corp.