Lakewood, Colorado / February 27, 2014 / ACCESSWIRE / Taranis Resources Inc. (TSX-V: TRO) ("Taranis" or the "Company") announces that its Board of Directors has decided to hold a Special Shareholder Meeting on or about April 28, 2014 to consider a change to the Company's share capital structure. Taranis currently owns a 100% interest in the Thor Ag-Pb-Zn-Au-Cu deposit, currently with 6.94 M oz of silver in the deposit and ranked 19th in size of 149 former producers in British Columbia, and also includes majority interests in several mineral properties in Finland.
The change to be considered at the Special Shareholder Meeting will be a proposed consolidation of the Company's issued and outstanding share capital, aimed at reducing the market float. A decrease in the Company's outstanding share capital will make it easier to complete a financing, to allow the Company to commence the exploration delineation drilling and environmental work at Thor towards onset of a Feasibility Study. Furthermore, a share consolidation will reduce exposure of the Company to volatile equity markets, and will also minimize the impact of predatory trading.
John Gardiner, President and CEO of Taranis states "Increasingly, junior mining exploration companies are spending less capital exploring and more maintaining their companies on the TSX-V Exchange. Our shareholders are very important to Taranis, and we need to be cognisant of their contribution and investment - and don't consider large dilutive financings as being in their best interest. In view of this, we believe that this approach gives Taranis the best approach to advancing its key assets."
Taranis is nearing completion of Phase 1 (metallurgy) of a 5 part program that is designed to move Thor closer to Feasibility. Taranis anticipates that the results of the metallurgical work will be disclosed in March 2014. Taranis will be at the PDAC in Toronto March 2-5 in booth 2329.
About Taranis Resources Inc.
Taranis Resources Inc. currently has 42,124,989 shares issued and outstanding (56,371,657 shares on a fully-diluted basis).
Per: John J. Gardiner, P. Geol.,
For further information contact:
-------------------------------------------------------------------------- |John Gardiner, P. Geol. |George Kent, P. Eng. | |14247 West Iliff AvenueLakewood, Colorado|Suite 1406, 130 Carlton Street| |Phone: (303) 716-5922 |Toronto, Ontario | |Cell: (720) 209-3049 |Phone: (416) 323-0783 | |[email protected] |Cell: (416) 697-0783 | | |[email protected] | | | | --------------------------------------------------------------------------
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 NEWS RELEASE.
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.