Taipan Capital Increases Private Placement


┬áTaipan Capital, concurrent with the proposed qualifying transaction,will conduct a non-brokered private placement of units for up to $405,000 (increased from $345,000) in gross proceeds. The financing will now consist of up to 1,500,000 flow-through units (the “FT Units”) and up to 1,500,000 non-flow-through units (the “Non-FT Units”). Each FT Unit will consist of one flow-through common share in the capital of the Company and one non-transferable share purchase warrant, offered at a price of $0.15 per FT Unit. Each Non-FT Unit will consist of one non-flow-through common share in the capital of the Company and one non-transferable share purchase warrant, offered at a price of $0.12 per Non-FT Unit. Each share purchase warrant forming a part of the FT Units and Non-FT Units will entitle the holder thereof to acquire one additional non-flow-through common share of the Company at a price of $0.15 per share at any time prior to the date that is 24 months from the date of issuance.

Net proceeds from the Private Placement will be utilized to fund the proposed work program on the Lucky Joe Property and for working capital. Finders fees may be payable in connection with the Private Placement as permitted under the policies of the Exchange.

Completion of the Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

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