Tarsis Resources Ltd. (TSXV: TCC) (�Tarsis� and �the Company�) is pleased to announce that the financing announced on January 24, 2012 and increased on February 9, 2012 has been closed.
Tarsis issued 4.8 million units (a �Unit�) at $0.25 per Unit for gross proceeds of $1.2 million. Each Unit is comprised of one common share and one half of a non-transferable common share purchase warrant. Each warrant entitles the holder to purchase one additional common share on or before August 11, 2013 at a price of $0.40 per common share.
The securities issued are subject to a four month hold period expiring on June 11, 2012. Insiders participated in the offering for a total of 440,000 Units.
The proceeds will be used for certain prospect generation efforts in the Yukon and elsewhere, certain early stage exploration work to upgrade currently held projects, and for general corporate purposes.
About Tarsis Resources Tarsis is an exploration company following the prospect generator business model, with nine mineral properties in the Yukon, Canada and one in Mexico. The Company acquires prospective exploration projects when metal prices are low or of strategic value, and vends or options out projects to partners for advancement.
On behalf of the Board,
Marc G. Blythe, P.Eng., MBA President, Director and CEO
Tarsis is a zinc and lead exploration company based in Canada.
Its main exploration properties are WHITE RIVER PROPERTY, CARIBOU CREEK, MOR PROPERTY, ERIKA, MEISTER, PROSPECTOR MOUNTAIN, GOZ CREEK, CABIN LAKE and TIM/WOLF in Canada.