By Devika Patel
Knoxville, Tenn., Nov. 8 - Tarsis Capital Corp. announced that it has agreed to raise C$3.2 million in a private placement of units and stock.
The company will sell up to 3 million flow-through shares at C$0.90 per share and up to 750,000 units at C$0.70 apiece. Each unit will consist of one common share and one half-share warrant, with each warrant exercisable at C$1.00 for 18 months.
Proceeds will be used for exploration and general working capital.
Tarsis will pay a 7% cash finder's fee and 7% in finder's warrants. Each of these warrants is exercisable at C$0.70 for 18 months.
Based in Vancouver, B.C., Tarsis is a capital pool company.
Issuer: | Tarsis Capital Corp.
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Issue: | Units of one common share and one half-share warrant; flow-through shares
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Amount: | C$3.2 million
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Fees: | 7% in cash and warrants
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Pricing date: | Nov. 8
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Stock symbol: | TSX Venture: TCC
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Stock price: | C$0.71 at close Nov. 7
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Units
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Amount: | 750,000
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Price: | C$0.70
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Warrants: | One half-share warrant per unit
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Warrant expiration: | 18 months
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Warrant strike price: | C$1.00
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Flow-through shares
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Amount: | 3 million
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Price: | C$0.90
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Warrants: | No
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