06:53 AM EDT, 09/24/2024 (MT Newswires) -- Tajiri Resources ( TAJIF ) late on Monday said it will raise $1.5 million through a non-brokered private placement of units priced at $0.05 each.

The offering is subject to TSXV approval.

Each unit consists of one Tajiri common share and one common share purchase warrant entitling the holder to buy an additional common share for $0.10 for a three-year period starting from the closing date.

Proceeds from the placement will be used for exploration and development of the company's mineral projects and for general working capital.