New Issue: Tarsis settles C$1.58 million unit portion of C$4.38 million placement of units, shares

By Devika Patel

Knoxville, Tenn., Dec. 12 - Tarsis Capital Corp. announced that it has closed the units portion of a C$4.38 million private placement of units and stock, raising C$1,581,823. The deal priced on Nov. 8 for C$3.2 million and was increased to its current size on Nov. 15.

Tarsis sold 2,259,747 units at C$0.70 apiece for C$1,581,823. When the deal priced, the issuer said it would sell 750,000 units for C$525,000, then increased the amount of units to 2.4 million units at that price for C$1.68 million.

Each unit consists of one common share and one half-share warrant, with each warrant exercisable at C$1.00 for 18 months.

The company still plans to sell up to 3 million flow-through shares at C$0.90 per share for C$2.7 million.

As previously reported, proceeds will be used for exploration and general working capital.

Tarsis will pay 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.
Issue:	Units of one common share and one half-share warrant; flow-through shares
Amount:	C$4.38 million
Fees:	7% in cash and warrants
Pricing date:	Nov. 8
Upsized:	Nov. 15
Stock symbol:	TSX Venture: TCC
Stock price:	C$0.71 at close Nov. 7
Units
Amount:	C$1,581,823
Units:	2,259,747
Price:	C$0.70
Warrants:	One half-share warrant per unit
Warrant expiration:	18 months
Warrant strike price:	C$1.00
Settlement date:	Dec. 12
Flow-through shares
Amount:	C$2.7 million
Shares:	3 million
Price:	C$0.90
Warrants:	No

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