Tarsis Capital Corp.

Tarsis Capital Corp.

November 08, 2007 09:00 ET

Tarsis Announces a Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 8, 2007) - Tarsis Capital Corp. (TSX VENTURE:TCC) ("Tarsis") is pleased to announce that it has agreed to raise $3,200,000 by way of a non-brokered private placement of Units and flow-through shares to qualified investors.

The Company will offer up to 750,000 Units at $0.70 per Unit. Each Unit is comprised of one common share and one half common share purchase warrant. Each whole warrant will allow the holder to purchase one common share for a period of eighteen months for $1.00.

The Company will also offer up to 3 million flow-through common shares at $0.90 per flow through share.

Tarsis plans to use the net proceeds from the offering for exploration expenditures on its Yukon base metal properties, including funding drill programs on the MOR and Goz Creek properties. Some of the non-flow through funds will be used for general working capital. A finder's fee of 7% in cash and 7% in finder's warrants will be paid to qualified finders. The finder's warrants will be exercisable at $0.70 for a period of 18 months.

Tarsis is a junior exploration company with six high quality properties in the Yukon and one in Mexico. The Company currently has 8,520,000 shares issued and outstanding.

On behalf of the Board of Directors

Tarsis Capital Corp.

Marc G. Blythe, P.Eng., MBA., President and Chief Executive Officer

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Tarsis Capital Corp.
    Marc G. Blythe, P.Eng., MBA.
    President and Chief Executive Officer
    (604) 689-7644
    Email: info@tarsis.ca
    Website: www.tarsis.ca