VANCOUVER, BC, Jan. 28, 2021 /CNW/ - Tajiri Resources Corp. (the "Company") (TSXV: TAJ) reports that as a result of a review by the British Columbia Securities Commission (BCSC) and the Ontario Securities Commission (OSC), the Company is issuing the following news release to clarify its disclosure contained in its recently filed Information Circular dated January 4, 2021 (the "Circular") for the Company's Annual General Meeting scheduled for February 5, 2021 (the "AGM").
At the AGM the Company proposes to seek shareholders' approval to the Company's acquisition of the Epeius and Gargantuan Projects located in Guyana, South America (the "Projects"). As this is a related party transaction:
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the TSX Venture Exchange requires the Company to obtain shareholders' approval as a condition of the TSXV approving such acquisition; |
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the OSC considers the current disclosure within the Circular to be insufficient for compliance with Multilateral Instrument 61-101 as it pertains to related party transactions and obtaining shareholders' approval; and |
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the OSC and BCSC note that technical reports prepared in accordance with National Instrument 43-101 and NI 43-101F1 must be prepared and made available to shareholders as part of the disclosure to be considered. |
As such the Company advises that:
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the matter concerning the Company's acquisition of the Projects will not be put forward for discussion or consideration by shareholders at the AGM on February 5, 2021; |
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rather, after all other matters to be dealt with the AGM have been completed, the AGM will be adjourned so as to allow the Company to prepare comprehensive disclosure concerning the Projects and the proposed acquisition; |
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such additional information will include technical reports on the Projects, prepared in accordance with NI 43-101F1 |
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such additional information will form the basis of an addendum to the Circular, which will be mailed out to shareholders at least 21 days prior to the adjourned AGM date; and |
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the Company will not be relying on the proxies received under the Circular as they pertain to the acquisition of the Projects. Rather, the Company will provide a replacement proxy with the above stated addendum. |
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. Lead 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.
