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Tarku Closes $638,455 Private Placement Financing

Wednesday, 13 April 2022 11:25

Tarku Resources ltd

MONTREAL, QC / ACCESSWIRE / April 13, 2022 / Tarku Resources Ltd (TSXV:TKU)(FRA:7TK)(OTCQB:TRKUF) (the "Company" or "Tarku") announces that it closed on April 13, 2022, a non-brokered private placement (the "Private Placement") for aggregate gross proceeds of $638,455. The Private Placement was comprised of 6,384,550 units of the Company at a price of $0.10 per share.

Each Unit consists of one common share in the capital of the Company and one-half of one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire one common share at a price of $0.15 per common share for a period of twenty-four (24) months ending April 13, 2024. Insiders of the Company subscribed for 250,000 units.

All securities issued pursuant to the Private Placement with be legended with a hold period of four (4) months and one day from the date of issuance. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

The Company paid finder's fees in a cash commission equal to 2% of aggregate proceeds from the sale of Units sourced by the finder totaling $3,000. The Private Placement has been conditionally accepted by the TSX Venture Exchange.

The net proceeds of the Private Placement will be mainly used to fund the Company's precious metals exploration Silver Strike Project in Arizona.

About Tarku Resources Ltd. (TSX.V: TKU - FRA: 7TK - OTCBQ: TRKUF)

Tarku is an exploration company focused on new discoveries in favourable mining jurisdictions such as Quebec and Arizona. In Arizona, in the famous Tombstone District, Tarku owns 100% of 29 km2 of the Silver Strike Project, which has been interpreted by management as similar to what is found at the Hermosa Project, located 80km west in Santa Cruz County, Arizona, which South32 acquired for USD 1.8 billion in 2018. In Quebec, Tarku owns 100% of the "Three A's" exploration projects, (Apollo, Admiral and Atlas Projects), in the Matagami Greenstone Belt, which has been interpreted by management as the eastern extension of the Detour Belt, and which has seen recent exploration successes by Midland Exploration Inc., Wallbridge Mining Company Ltd., Probe Metals Inc.

On behalf of Tarku Resources Ltd

Julien Davy,
President and CEO

Tarku Contact Information:

Email: [email protected]

Please follow @TarkuResources on LinkedIn, Facebook, Twitter and Instagram.

Neither 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 release.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku's periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.

SOURCE: Tarku Resources Ltd.

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