15:10:43 EDT Mon 29 Apr 2024
Enter Symbol
or Name
USA
CA



Tarku Resources Ltd (2)
Symbol TKU
Shares Issued 112,000,000
Close 2023-12-04 C$ 0.025
Market Cap C$ 2,800,000
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Tarku Resources arranges $500,000 private placement

2023-12-04 17:50 ET - News Release

Mr. Julien Davy reports

TARKU ANNOUNCES FLOW-THROUGH PRIVATE PLACEMENT

Tarku Resources Ltd., subject to required approvals from regulatory authorities, more specifically the TSX Venture Exchange, is proceeding with a non-brokered private placement of up to 20 million flow-through shares at a price of 2.5 cents per share for gross proceeds of up to $500,000.

The company plans to allocate the gross proceeds of the private placement to finance 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 $275,000 (Canadian) in the private placement.

Finders' fees payable in cash equal to 7 per cent of the gross proceeds sourced by the finders may be paid to eligible finders. Finders' warrants entitling the holders to acquire up to 7 per cent of the shares under the private placement may also be paid to eligible finders.

About Tarku Resources Ltd.

Tarku 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 per cent of the 29-square-kilometre Silver Strike project. Silver Strike has been interpreted by management to have the potential for similar carbonate replacement deposits (CRD) comparable with the Hermosa project, located 80 kilometres west in Santa Cruz county in Arizona, which South32 acquired for $1.8-billion (U.S.) in 2018.

In Quebec, Tarku owns 100 per cent of the 3As 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 four kilometres southwest of Sayona Mining's North American lithium mine.

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