By Laura Lutz
Des Moines, July 24 - Tarsis Capital Corp. completed a private placement of units for C$1.2 million.
The company sold 1.5 million non flow-through units at C$0.40 each and 1.2 million flow-through units at C$0.50 each.
The non flow-through units each consist of one non flow-through share and one warrant.
The flow-through units each consist of one flow-through share and one warrant.
The warrants are non-transferable. Each warrant is exercisable for one non flow-through share at C$0.65 for two years.
Expiry of the warrants may be accelerated to 21 days if the closing price of the company's shares is at least C$1.00 for 20 consecutive trading days.
The non-brokered placement was conducted in connection with Tarsis's acquisition of mineral exploration properties from Almaden Minerals Ltd. and Minera Gavilan, SA de CV.
Tarsis is a Vancouver, B.C.-based capital pool company. The property acquisition served as its qualifying transaction.
| Issuer: | Tarsis Capital Corp.
|
| Issue: | Units of one non flow-through share and one non flow-through warrant; units of one flow-through share and one non flow-through warrant
|
| Amount: | C$1.2 million
|
| Agent: | Non-brokered
|
| Settlement date: | July 24
|
| Stock symbol: | TSX Venture: TCC.P
|
| Stock price: | C$0.465 at close July 23
|
|
|
| Non flow-through units
|
| Units: | 1.5 million
|
| Price: | C$0.40
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.65
|
|
|
| Flow-through units
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| Units: | 1.2 million
|
| Price: | C$0.50
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.65
|
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