Taku Resources Increases Financing to $1,500,000
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 25, 2017) - Taku Gold Corp. (CSE:TAK)(CSE:TAK.CN) ("Taku" or the "Company") announces its intention to undertake a non- brokered private placement to raise $1,500,000 through the distribution of 15,000,000 units ("Units") at $0.10 per Unit.
Each Unit will consist of one common share and one common share purchase warrant; each warrant entitling the holder to acquire one additional common share at $0.15 for 24 months from the date of issue.
In addition to relying on the usual exemptions, the placement will be available to all persons who held common shares of the Company as of March 21, 2017 (the record date). If aggregate subscriptions for Units from existing shareholders exceed the maximum number of Units available, the Company will allocate Units on a proportionate basis as to each subscriber's holdings of the Company's shares as of the record date.
Finder's fees may be paid, in accordance with Canadian Securities Exchange policies. Closing of the placement will be subject to making applicable filings with the CSE. The Company confirms that there are no material facts or material changes concerning the Company which have not been generally disclosed.
The net proceeds from the private placement will be used to fund Taku's ongoing exploration programs in the White Gold district of Yukon and for general working capital. This new gold camp has shown a rapid evolution from the initial Golden Saddle discovery in 2009, currently held by Kinross Gold Corp., to the $520 million, all-share acquisition of Kaminak Gold Corp. in May 2016 by Goldcorp Inc. Kaminak's key asset was the Coffee Gold project located at the south end of the White Gold district approximately 130 kilometres south of Dawson City. Coffee currently has total gold mineral resources (Goldcorp press release - May 12, 2016) of 3.0-million ounces indicated (63.7Mt at 1.45g/t), and 2.2-million ounces inferred (52.4Mt at 1.31g/t).
Agnico-Eagle Mines Ltd. has also recently entered the camp with a proposed share purchase equal to 19.93% of the total number of issued and outstanding common shares of White Gold Corp.
Taku holds a portfolio of 1,449 claims (29,813 hectares) in the White Gold district.