Tarachi Gold closes $1.95-million private placement
Tarachi Gold closes $1.95-million private placement
2020-05-25 08:49 ET - News Release
Mr. Lorne Warner reports
TARACHI GOLD CORP. - ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT
Tarachi Gold Corp. has closed its non-brokered private placement, issuing a total of 13,003,664 units at 15 cents per unit for total gross proceeds of $1,950,550.
Each unit consists of one common share and one common share purchase warrant with each warrant entitling the holder to purchase one share of the company at a price of 25 cents per share for a period of 24 months from the date of closing of the private placement.
All securities issued will be subject to a four-month hold period pursuant to securities laws in Canada.
The company intends to use the proceeds from the private placement for exploration of the company's portfolio of resource properties in Mexico and for general working capital. Exploration work will consist of additional geochemical, geological survey work, environmental studies and drilling permit applications in order to commence diamond drilling this summer.
The company paid finders' fees of $84,135 and issued 566,233 finder warrants at the same terms as the warrants described above.
We seek Safe Harbor.
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