Targa Invites Investors to Join Private Placement for Growth
Targa Exploration Corp. Launches Private Placement
Targa Exploration Corp. (CSE: TEX | OTCQB: TRGEF | FRA: V6Y) has initiated an exciting opportunity for investors with a non-brokered private placement targeting gross proceeds of up to C$500,000. Each share sold will be priced at C$0.15, allowing investors to join in Targa's exploration efforts.
Details of the Offering
The offering includes the issuance of flow-through shares (FT Shares), which are beneficial for investors as they allow companies to attract investments to explore for new mineral properties while providing specific tax advantages. The funds raised will primarily be allocated towards exploration activities at Targa’s Opinaca gold project, which holds promising geological features in a significant gold region.
Utilization of Raised Funds
Proceeds from this private placement will enable Targa to incur eligible Canadian exploration expenses. These expenses qualify as "flow-through mining expenditures" under the Income Tax Act of Canada, aimed at advancing the mining operations at the Opinaca project.
About the Opinaca Gold Project
The Opinaca Project is situated within the James Bay region of Quebec. It spans over 85,267 hectares and is strategically located near crucial infrastructure, facilitating exploration and potential future mining operations. Recent explorations in 2023 revealed a promising 7km-long gold target trend, with boulders displaying significant gold values. This project is shaping up to be a critical asset for Targa, both in terms of immediate exploration and long-term development.
Company Overview and Exploration Plans
Targa Exploration Corp. is dedicated to advancing its gold exploration portfolio. The company is anticipating a maiden drill program at the Opinaca project in 2025. As Targa secures funds through this private placement, it aims to expand its existing knowledge of gold deposits and further develop its resources.
Closing Anticipation and Next Steps
Targa expects the closing of this offering to happen shortly, adhering to typical closing conditions. Additionally, the company may pay finders’ fees to qualified finders as part of the offering process, ensuring that the financing comes together effectively.
Commitment to Investors
As a Canadian exploration firm, Targa remains committed to transparency and effective communication with its investors. It is vital for potential investors to understand that the securities involved in this offering are subject to a statutory hold period. Targa is working diligently to keep stakeholders informed about developments and progress in the exploration of the Opinaca gold project.
Contact Information
For further inquiries, investors can reach out to Cameron Tymstra, CEO and President of Targa Exploration Corp.:
Tel: 416-668-1495
Email: cameron@targaexploration.com
Website: www.targaexploration.com
Frequently Asked Questions
What is the purpose of the private placement by Targa?
The private placement is aimed at raising funds for the exploration of Targa's Opinaca gold project.
What are flow-through shares?
Flow-through shares allow companies to pass tax benefits directly to investors, motivating investment in exploration activities.
When is Targa planning to commence its drill program?
Targa is planning its maiden drill program at the Opinaca project in 2025.
Who can potential investors contact for more information?
Investors can contact Cameron Tymstra, CEO of Targa Exploration Corp., for more details.
What is unique about the Opinaca gold project?
The Opinaca gold project features a 7km-long gold target trend with promising geological anomalies identified through recent exploration efforts.
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