MONTREAL, QC / ACCESSWIRE / December 4, 2023 / Tarku Resources Ltd (TSXV:TKU)(FRA:7TK)(OTCQB:TRKUF) (the "Company" or "Tarku") announces that, subject to required approvals from regulatory authorities, more specifically the TSX Venture Exchange (the "TSXV"), Tarku is proceeding with a non-brokered private placement (the "Private Placement") of up to 20,000,000 Flow-Through Shares at a price of $0.025 per shares for gross proceeds of up to $500,000.
The Company plans to allocate the gross proceeds of the Private Placement to fund the Company's exploration in Quebec as its MAX Lithium project and the 3As (Apollo, Atlas and Admiral) projects in the Matagami area.
The Company has received to date commitment for subscriptions totalling C$275,000 in the private placement.
Finder's fees payable in cash equal to 7% of the gross proceeds sourced by the finder may be paid to eligible finders. Finder's warrants entitling the holders to acquire up to 7% of the shares under the Private Placement may also be paid to eligible finders.
The Private Placement securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.
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 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.
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.
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