Tajiri Resources (TSX-V:TAJ) announced that it will raise $1.5 million via a non-brokered private placement for the exploration and development of its mineral projects and general working capital.
The company will sell units at $0.05, with each unit comprised of a share and a share purchase warrant.
The warrant will enable the holders to purchase an additional share at $0.10 for three years from closing.
The warrants will be subject to an acceleration clause, where should the company’s shares close at or above $0.25 for 10 consecutive trading days they will be called for exercise within 30 days.
Tajiri Resources (TSX-V:TAJ) has exploration assets in the highly prospective greenstone belts of Burkina Faso, West Africa and Guyana, South America.