Tarsis Increases Financing to $1.2 million
Tarsis Resources Ltd. (TSXV: TCC)
(�Tarsis� and �the Company�) is pleased to announce that the financing announced on
January 24, 2012 was oversubscribed. As a result, Tarsis increased the offering
to $1.2 million to accommodate certain investors who may be able to assist the
Company with future growth plans and future financings.
The financing, which is a non-brokered
private placement, will now consist of 4.8 million units (a �Unit�) at $0.25
per Unit for gross proceeds of $1.2 million, subject to final approval by the
TSX Venture Exchange.Each Unit is comprised of one common share and one half of
a non-transferable common share purchase warrant. Each warrant entitles the
holder to purchase one additional common share for a period of 18 months at a
price of $0.40 per common share.
Marc G. Blythe, President and CEO,
commented that "Our financing effort had the offering oversubscribed even
with the increase to accommodate additional demand and we are pleased that we
were able to complete it in timely fashion."
The offering will close shortly. The
proceeds will be used for certain prospect generation efforts in the Yukon and
elsewhere, certain early stage exploration work to upgrade currently held
projects, and for general corporate purposes.
About Tarsis Resources
Tarsis is an exploration company following
the prospect generator business model, with nine mineral properties in the
Yukon, Canada and one in Mexico. The Company acquires prospective exploration
projects when metal prices are low or of strategic value, and vends or options
out projects to partners for advancement.
On behalf of the Board,
Marc G. Blythe, P.Eng., MBA.
President and Chief
Executive Officer