Company expands shareholder base with non-brokered equity financing
By Devika Patel
Knoxville, Tenn., Sept. 20 - Tarsis Resources Ltd. said it plans a C$1 million non-brokered private placement of units.
The company will sell 4 million units at C$0.25 apiece. Each unit consists of one common share and one warrant, with each warrant exercisable at C$0.50 for 18 months.
The strike price is a 40.85% premium to the Sept. 17 closing share price of C$0.355.
Proceeds will be used for mineral exploration in the Yukon and Mexico, the review of new projects and general corporate purposes.
"We had the opportunity to expand our shareholder base with some strategic investors who liked our recent results in the Yukon so we decided it was a good long term move to complete this offering," president and chief executive officer Marc G. Blythe said in a press release.
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 one warrant
|
| Amount: | C$1 million
|
| Units: | 4 million
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 20
|
| Stock symbol: | TSX Venture: TCC
|
| Stock price: | C$0.355 at close Sept. 17
|
| Market capitalization: | C$6.5 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
