Taranis Resources Inc. Announces Private Placement
TSX VENTURE: TRO
Estes Park, Colorado / TheNewswire / June 5, 2018 - Taranis Resources Inc. ("Taranis") [TSX.V: TRO] announces a private placement to consist of the sale of the following securities:
(a) up to 1,500,000 units at a price of $0.10 per unit, to raise gross proceeds of up to $150,000, each unit to consist one common share and one share purchase warrant, with each warrant to entitle the holder to purchase one additional common share at a price of $0.15 for a period of 12 months from closing; and
(b) up to 3,500,000 flow-through units at a price of $0.15 per flow-through unit, to raise gross proceeds of up to $525,000, each flow-through unit to consist one flow-through share and one share purchase warrant, with each warrant to entitle the holder to purchase one additional flow-through share at a price of $0.15 for a period of 24 months from closing.
The proceeds from this private placement, which is subject to regulatory acceptance, will be used to finance further exploration at Taranis's Thor property in southeastern British Columbia, and for working capital purposes.
All securities issued pursuant to the private placement, including any shares that may be issued pursuant to the exercise of the share purchase warrants, will be subject to a hold period in Canada of four months plus one day from closing. Finders' fees may be paid on a portion of the funds raised.
About Taranis Resources Inc.
Taranis is an exploration company focused on the development of its 100%-owned Thor project in southeast British Columbia. Taranis's mandate is to recognize mineral deposits early in the exploration cycle that can be developed through intelligent exploration and business alliances. For additional information on Taranis or its Thor project, please visit our website at www.taranisresources.com.
Taranis currently has 60,263,067 shares issued and outstanding (71,696,733 shares on a fully-diluted basis).
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.
TARANIS RESOURCES INC.
Per: John J. Gardiner (P. Geol.),
President and CEO
For further information contact:
|John J. Gardiner
681 Conifer Lane
Estes Park, Colorado
Phone: (303) 716-5922
Cell: (720) 209-3049
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This News Release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from expected results.