MONTREAL, April 24, 2020 (GLOBE NEWSWIRE) — Tarku Resources Ltd. (TSX-V: TKU) (the “Company” or “Tarku”) announces the signing of agreements concerning the issuance of shares in payment of debts of Tarku owed to two directors and officers. Tarku has received the conditional approval of the TSX Venture Exchange with respect to such insurance and plans, subject to the shareholder approval at the AGM, to issue a total of 2,879,916 common shares, at a price of $0.069 per share.
Tarku plans to issue such common shares in order to conserve its funds. Shares to be issued will be subject to a hold period of four (4) months and one (1) day, and once the transaction is completed, Tarku will have repaid most of its debts to these directors and officers.AGMThe Company announces changes to its planned Annual and Special Meeting of Shareholders with respect to the COVID 19 pandemic. In complying with government guidelines, the Annual and Special Meeting of Shareholders scheduled to take place on May 15, 2020, has been moved to May 25, 2020 at 11:00 am and will only take place by phone to ensure the health and safety of all participants. The record date of April 9, 2020 remains unchanged and all information will be contained in the meeting materials that will be sent to shareholders on April 30, 2020.Changes to the BoardThe Board of Directors of Tarku also announce the resignation of Michael Collins from the Board of Directors. The Board wishes him well in his future endeavours.About Tarku Resources Ltd. (TSX-V: TKU)
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