Tarsis and Estrella Provide an Update on Alianza Transaction Progress
Published : March 10, 2015
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Keywords :   G Mexico | Gold | Market | Mexico | Peru | Report |

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 10, 2015) - Tarsis Resources Ltd. ("Tarsis") (TSX VENTURE:TCC) and Estrella Gold Corporation ("Estrella") (News - Market indicators) are pleased to provide the following update on the acquisition of Estrella by Tarsis to join forces, combine efforts, reduce overhead, and become Alianza Minerals Ltd. The transaction is well underway and progressing on schedule. The transaction is expected to be completed by the end of April, except for the financing which may close in tranches before then.

Strong shareholder support from Estrella

The shareholders of Estrella have shown strong support for the transaction with 49.6% signing lock up agreements stating that they will vote in favour of the transaction as presented. This is a key item in completing the transaction and indicates that the transaction is very likely to be approved by the Estrella shareholders at the required shareholders meeting.

Financing terms amended and well underway

The $2 million financing is well underway with amounts currently being allocated to investors, including current shareholders, and new investors. Tarsis has agreed to change the price of the offering from the previously announced $0.35 per subscription receipt to $0.25 per subscription receipt, on a post share consolidation basis of one new share for ten old shares.

Each subscription receipt will become a unit on closing of the acquisition of Estrella, which is comprised of one common share and one common share purchase warrant exercisable to acquire one common share for a period of three years at $0. 40, on a post share consolidation basis. This will allow the four month hold period to commence sooner for the investors in the initial tranche.

Fairness opinion completed

The independent committee of the Board of Directors of Estrella commissioned Ross Glanville & Associates Ltd. and Bruce McKnight Minerals Advisor Services to complete a fairness opinion on the transaction. The opinion has been completed and it concluded that the transaction was "fair from a financial point of view to existing Estrella shareholders." The completion of this report is one more step towards completing the transaction.

Information Circular completed

The information circular for meeting of the shareholders of Estrella to approve the transaction has been completed and will be mailed by March 13, 2015. The special meeting of the Estrella shareholders will be held on Wednesday, April 8, 2015, with closing of the transaction being scheduled for the end of April, 2015. The record date for shareholders of Estrella to be entitled to vote on the transaction is Wednesday, March 4, 2015.

New Name Reserved

The name Alianza Minerals Ltd. has been reserved for the new company. The new name, which is Spanish for "alliance", was chosen to reflect the prospect generator model followed by the company. The Alianza team has also completed a detailed plan and budget and presented projects to potential interested parties at the PDAC conference in Toronto from March 1st to 4th.

Share Structure upon completion of the transaction

Upon completion of the merger, rollback and financing, the combined company will have the following shares outstanding:

Description Common Shares Percentage of Total
Shares held by former Tarsis Shareholders 6,114,044 32.6 %
Shares held by Estrella Shareholders following the completion of the transaction 4,665,030 24.8 %
Maximum number of shares held by subscribers of the Subscription Receipts 8,000,000 42.6 %
TOTAL 18,779,074 100.0 %

About Alianza

The new entity, Alianza Minerals Ltd. ("Alianza"), will be a prospect generator focused on the Americas, particularly the Cordilleran regions that characterize western North and South America. Alianza will have four projects in Peru, ten in Nevada, three in Mexico, and five in Yukon and the flexibility to acquire new projects in the Americas as opportunities arise. The Plan of Arrangement will have Tarsis acquiring Estrella's shares on a one for one basis. Tarsis will also complete a share consolidation and financing concurrent with the Plan of Arrangement.

On behalf of the Boards,

Marc G. Blythe, P.Eng., MBA.
President and Chief Executive Officer
Tarsis Resources Ltd.
Jason Weber, P.Geo.
President and Chief Executive Officer
Estrella Gold Corporation

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.

Data and Statistics for these countries : Mexico | Peru | All
Gold and Silver Prices for these countries : Mexico | Peru | All

Alianza Minerals Ltd

EXPLORATION STAGE
CODE : ANZ.V
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Alianza Minerals is a gold exploration company based in Canada.

Alianza Minerals holds various exploration projects in Peru.

Its main exploration properties are CAOLPAYOC and PUCARANA in Peru.

Alianza Minerals is listed in Canada. Its market capitalisation is CA$ 1.2 millions as of today (US$ 931 318, € 815 835).

Its stock quote reached its lowest recent point on March 20, 2020 at CA$ 0.03, and its highest recent level on January 08, 2021 at CA$ 0.25.

Alianza Minerals has 33 279 998 shares outstanding.

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Financings of Alianza Minerals Ltd
10/3/2012Estrella Gold Increases Private Placement to $1.1 Million
9/19/2012Estrella Gold Announces Private Placement
9/19/2012Announces Private Placement
7/20/2011Announces Closing of $4,030,000 Private Placement Financing ...
6/20/2011Proposed Private Placement Financing
Nominations of Alianza Minerals Ltd
1/16/2013Appoints John R. Wilson President & CEO
1/16/2013Appoints John R. Wilson President & CEO
10/3/2011Estrella Gold Appoints New CFO and Sets Up New Office
Project news of Alianza Minerals Ltd
9/13/2012Estrella Gold Announces Wide Zones of Gold and Silver Minera...
9/11/2012Estrella Gold Updates Pampa Poroma IOCG Project, Southern Pe...
6/12/2012Estrella Gold Corp. Announces Drilling at La Estrella Gold-S...
5/31/2012Estrella Gold Extends Colpayoc Gold Project Terms
2/6/2012Estrella Gold Announces Drill Program at Pampa Poroma Iron-O...
1/10/2012Estrella Signs Letter of Intent for its Estrella Gold-Silver...
4/25/2011(Pucarana)Announces Drill Program at Pucarana Gold Project, Peru
3/7/2011(Caolpayoc)Program Review and 2011 Exploration Plans
2/16/2011(Caolpayoc)Announces Trench Results from Second Mineralized Zone at the...
4/22/2010(Caolpayoc)NI 43-101 Technical Report on Resources
Corporate news of Alianza Minerals Ltd
7/6/2016Alianza Minerals Completes ISY Work Program In Peru
5/2/2016Alianza Minerals Appoints New Director
4/7/2016Alianza Minerals Closes Second Tranche of Financing
12/15/2015Alianza Minerals Announces New Partner for Yanac Copper Join...
4/21/2015Tarsis and Estrella Received Court Approval; Provide Update ...
4/20/2015IIROC Trading Halt - EST
3/10/2015Tarsis and Estrella Provide an Update on Alianza Transaction...
2/11/2015Tarsis Resources Ltd. and Estrella Gold Corporation to Form ...
12/23/2014Estrella Gold Closes $150,000 Financing
11/24/2014Estrella Gold Announces $200,000 Financing
5/16/2014Callinan Royalties and Estrella Gold Corporation Complete Fi...
5/15/2014Estrella Gold Closes Private Placement for $600,000
5/13/2014Estrella Gold Increases Private Placement to $600,000
5/7/2014Estrella $500,000 Financing Fully Subscribed
4/29/2014Estrella Appoints Jason Weber as President & CEO and Announc...
6/20/2013Partner to Continue Exploration Program at Henry Sur, Peru.
5/7/2013JV Partner Mines Management Reports Positive Exploration Res...
4/19/2013Terminates Colpayoc Agreements
10/29/2012Announces Results of Regional Exploration with Cliffs
10/11/2012Closes Private Placement for $1.1 Million
10/3/2012Increases Private Placement to $1.1 Million
9/13/2012Estrella Gold Announces Wide Zones of Gold and Silver Minera...
9/13/2012Announces Wide Zones of Gold and Silver Mineralization at La...
9/11/2012s Pampa Poroma IOCG Project, Southern Peru
5/4/2012Estrella Gold to be featured by BTV on National TV on May 5t...
2/7/2012Estrella Gold Files Colpayoc NI 43-101 Technical Report and ...
1/31/2012Estrella Gold Featured on CEO Clips and Updates Programs
12/30/2011Estrella Gold Staff Changes
6/30/2011Drills Colpayoc Gold Project, Peru
6/14/2011Announces Drill Program at Colpayoc Gold Project
4/28/2011Acquires New Exploration Targets in Peru
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