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Tarku Resources (TSXV:TKU) Announced a non-brokered Private Placement

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The company is looking to raise gross proceeds of up to $2.5 million from the placement of up to 25 million units priced at $0.10 per unit. The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.15 for 24 months.

Additional Information:

Company: Tarku Resources
Website: http://www.TarkuResources.com
Stock Symbol: TSXV: TKU
Date Published: Oct 26, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Tarku Resources has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $2.5 million from the placement of up to 25 million units priced at $0.10 per unit.

The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.15 for 24 months.

The shares are currently trading at $0.11.

The company will use the proceeds for working capital, to maintain and preserve its existing operations and assets, and for exploration expenditures on its current properties.

Tarku, an exploration company focused on making new discoveries in favourable mining jurisdictions, has 6 projects in Quebec in an area with a long and proven history of gold & base metal production.

The company owns 100% of the Apollo, Admiral and Atlas Projects, in the Matagami greenstone belt, Quebec.

Management interprets this area 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.

Tarku recently signed the final agreement on a joint venture option with Mansfield-Martin Exploration Mining to acquire an Earn-In interest for up to 75% of the 1,250 hectare Silver Tombstone project in the Tombstone mining District, Arizona.

The agreement requires Tarku to issue 3 million shares and spend US$3 million over the next 3 years to explore mineralization on the Tombstone Mining District properties held by Mansfield-Martin Exploration Mining.

Julien Davy, President and CEO of Tarku, stated: "This agreement sets the stage for a significant new opportunity for Tarku shareholders. The more we investigate and uncover information from historical databases and records, the more we see the potential for Tombstone regaining the shine it once had as a major historical Silver district. Tarku's strategy for the Tombstone project area is twofold: first to validate the existence of potential resources of high-grade silver mineralization in the close vicinity of past mines located on our property and secondly, to establishes that the same potential exists on a more regional scale along the extensions of those NNE structures which we also control over 5 km in length."

For more information, please visit the company’s website at www.TarkuResources.com, contact Julien Davy, President and CEO, by email at info@TarkuResources.com.

I’m Megan Edwards for Investmentpitch Media