MONTREAL, QC / ACCESSWIRE / December 18, 2023 / Tarku Resources Ltd (TSXV:TKU)(FRA:7TK)(OTCQB:TRKUF) (the "Company" or "Tarku") announces that, it has closed today a non-brokered private placement (the "Private Placement") for aggregate gross proceeds of $375,000. This Private Placement is comprised of 15,000,000 Flow-Through Shares of the Company at a price of $0.025 per share.
The net proceeds of the Private Placement will be used to fund the Company's MAX Lithium project as well as the 3 As' Gold and base metals projects in Quebec.
The Company paid finder's fees in a cash commission equal to 7% of aggregate proceeds from the sale of flow-through shares sourced by the finder totaling $22,750, as well as finder's warrants (the "Finder's Warrants") in an amount of 910,000 which is equal to 7% of the aggregate number of flow-through shares sourced by the finder pursuant to the Private Placement. Each Finder's Warrant is exercisable to purchase one Common Share at an exercise price of $0.05 until December 18, 2025.
All securities issued pursuant to the Private Placement is legended with a hold period of four (4) months and one day from the date of issuance. The Private Placement has been conditionally accepted by the TSX Venture Exchange on December 6, 2023.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
About Tarku
Tarku Resources Ltd. (TSXV: TKU | FRA: 7TK | OTCBQ: TRKUF) is a mining exploration company focused on advancing the development of new discoveries by using modern techniques in favourable mining jurisdictions such as Quebec and Arizona.
In Quebec, Tarku owns 100% of the "Three As" exploration projects (Apollo, Admiral and Atlas) in the Matagami Greenstone Belt, interpreted by management as the eastern extension of the Detour Belt, which has seen recent exploration successes by Midland Exploration, Wallbridge Mining Company and Probe Metals. In addition, the Company owns the MAX Lithium project, located 4 km southwest of Sayona Mining's North American Lithium mine.
In Arizona, within the famous Tombstone District, Tarku owns 100% of the 29 km2 Silver Strike project. Silver Strike has been interpreted by management to have the potential for similar Carbonate Replacement Deposits (CRD) comparable to the Hermosa project, located 80 km west in Santa Cruz County, Arizona, which South32 acquired for USD 1.8 billion in 2018.
On behalf of Tarku Resources Ltd.
Julien Davy,
President and CEO
Tarku contact information:
Email: [email protected]
Website: www.tarkuresources.com
Please follow @TarkuResources on LinkedIn, Facebook, Twitter, Instagram and YouTube.
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.