Tarku closes a private placement
SASKATOON, February 21, 2018. Tarku Resources Ltd. (TSX-V: TKU) (the “Company” or “Tarku”) announces that it has closed today a non-brokered private placement (the “Private Placement”) for gross proceeds of $321,000. The private placement consisted of 3,900,000 non-flow through units of the Company at a price of $0.05 per unit ($195,000) and 1,800,000 Flow-Through Shares of the Company at a price of $0.07 per share ($126,000). 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 $0.10 per common share for a period of twenty-four (24) months ending February 21, 2020. An insider of the Company subscribed for 200,000 non-flow through units. The securities issued under this Private Placement are subject to a statutory four (4) month hold period ending June 22, 2018.
The net proceeds of the Private Placement will be used to fund the Company’s precious metals exploration projects (Chateau Fort, Richardson, Bullion, Atlas Apollo, Berthiaume and Admiral), the option to acquire 50% on the Guercheville Project and for general working capital purposes. 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 Resources Ltd 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. Tarku holds a 100% interest in all its projects and has an option to acquire a 50% interest in the SOQUEM project. 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. The Company has an experienced management team with a successful track record. The goal of Tarku is to provide value for its shareholders through the implementation of strategic property acquisition, innovative exploration techniques and exploration of fertile ground. Management cautions that there is no assurance that past results or discoveries on adjacent or nearby land packages are indicative that the Company will achieve similar results on its projects.
For more information please visit the Company’s web site or contact:
Sylvain Laberge, CEO
+1 (514) 702-9841
Julien Davy, President
+1 (514) 618-7287
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.