Extension of Expiry Date of Warrants

Rhea-AI Summary

Tarku Resources Ltd (OTCQB:TKRUF) announced an extension of the expiry date of 12,500,000 common share purchase warrants to May 1, 2024, subject to regulatory approvals. These warrants were issued in a private placement in October 2020, where the company distributed 25 million units at $0.10 each. Each unit included one common share and half a warrant for purchasing an additional share at $0.15. Tarku focuses on exploration projects in Quebec and Arizona, with upcoming drilling programs planned for both regions.

Positive

• Warrants extension supports maintaining investor interest, allowing for future capital raising.
• Upcoming drilling programs in Quebec and Arizona could lead to significant discoveries.

Negative

• Potential dilution of existing shares if warrants are exercised.

MONTREAL, QC / ACCESSWIRE / September 26, 2022 / Tarku Resources Ltd (TSXV:TKU)(FRA:7TK)(OTCQB:TRKUF) (the "Company" or "Tarku") announces that, subject to required approvals from regulatory authorities, more specifically the TSX Venture Exchange (the "TSXV"), Tarku will extend until May 1, 2024, the expiry date of 12,500,000 common share purchase warrants (the "Warrants") issued in connection with a private placement closed on October 30, 2020 (the "Private Placement"). Pursuant to the Private Placement, Tarku distributed 25,000,000 units at a price of $0.10 per unit. Each unit consisted of one (1) common share and one-half (1/2) Warrant, each whole Warrant entitling to subscribe for one (1) additional common share of Tarku at a price of $0.15 per share until October 30, 2022.

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, within the famous Tombstone District, Tarku owns 100% of the 29 km² Silver Strike Project. Silver Strike has been interpreted by management to have the protentional for similar CRD Deposits comparable to the Hermosa Project, located 80km west in Santa Cruz County, Arizona, which South32 acquired for USD 1.8 billion in 2018. Tarku is currently planning a surface mapping program, a deep-penetrating and high-resolution geophysical survey over the priority targets, with a minimum of 5,000-meter drill program in the upcoming month.

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. The Detour Belt has seen recent exploration successes by Midland Exploration Inc., Wallbridge Mining Company Ltd., Probe Metals Inc. After the last deep-penetration and high-definition IP geophysical survey over Apollo, Tarku is planning a minimum of 3,000-meter drill program during the fall 2022 period.

On behalf of Tarku Resources Ltd

Julien Davy,
President and CEO

Tarku Contact Information:
Email: investors@tarkuresources.com
Website: www.tarkuresources.com

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.

SOURCE: Tarku Resources ltd

View source version on accesswire.com:
https://www.accesswire.com/717490/Extension-of-Expiry-Date-of-Warrants

FAQ

What is the expiry date extension for Tarku Resources Ltd warrants?

The expiry date of Tarku Resources Ltd's warrants has been extended to May 1, 2024.

How many warrants are affected by Tarku's announcement?

The announcement affects 12,500,000 common share purchase warrants.

What is the stock symbol for Tarku Resources Ltd?

The stock symbol for Tarku Resources is TKRUF on the OTCQB.

When was the private placement that led to the issuance of warrants?

The private placement that resulted in the issuance of warrants closed on October 30, 2020.

What are Tarku Resources' primary exploration projects?

Tarku Resources focuses on exploration in Quebec and Arizona, including the Silver Strike Project and the Three A's projects.