Proceeds from fully subscribed deal fund prospect generation efforts
By Devika Patel
Knoxville, Tenn., Oct. 2 - Tarsis Resources Ltd. said it increased a non-brokered private placement of units to C$1.03 million. The oversubscribed deal priced for C$502,500 on Sept. 17 and is fully subscribed, the company said in a press release.
The company will now sell 6.87 million units of one common share and a warrant at C$0.15 per unit.
Each warrant is exercisable at C$0.25 for three years. The strike price reflects a 78.57% premium to the Sept. 14 closing share price of C$0.14.
Proceeds will be used for prospect generation efforts, early stage exploration work to upgrade projects and general corporate purposes.
Based in Vancouver, B.C., Tarsis is a zinc, copper, gold, silver and lead explorer.
| Issuer: | Tarsis Resources Ltd.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | C$1,030,500
|
| Units: | 6.87 million
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 17
|
| Upsized: | Oct. 2
|
| Stock symbol: | TSX Venture: TCC
|
| Stock price: | C$0.14 at close Sept. 14
|
| Market capitalization: | C$3.92 million
|
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