By Marisa Wong
Milwaukee, April 8 - Takara Resources Inc. said it plans to raise between C$1.2 million and C$3 million through a private placement of units on a best-efforts basis.
Takara will sell units at a price of C$0.14 each. Each unit will consist of one common share and one whole non-transferrable warrant. Each warrant entitles the holder to acquire one common share at a price of C$0.20 at any time within 12 months of issuance.
Versant Partners Inc. is the agent for the Regulation S offering.
The securities issued will be subject to a four-month hold period from the date of issuance.
Proceeds of the placement will be used toward the acquisition of the Guyana Gold Projects from Victoria Gold Corp., for working capital purposes and to undertake the work program on Takara's Guyana Gold Projects.
The closing of the offering is expected to occur on or about April 19.
Takara is a Toronto-based gold development company focused on the exploration and development of the Tassawini Gold Project and the BRL Venture with Newmont in Guyana.
| Issuer: | Takara Resources Inc.
|
| Issue: | Units of common shares, warrants
|
| Amount: | Minimum C$1.2 million, maximum C$3 million
|
| Price: | C$0.14
|
| Warrants: | One non-transferrable warrant per unit
|
| Warrant expiration: | 12 months
|
| Warrant strike price: | C$0.20
|
| Agent: | Versant Partners Inc.
|
| Pricing date: | April 8
|
| Settlement date: | April 19
|
| Distribution: | Regulation S
|
| Stock symbol: | TSX Venture: TKK
|
| Stock price: | C$0.06 at close April 7
|
| Market capitalization: | C$3.08 million
|
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