Tarsis Capital Corp.
TSX VENTURE : TCC

Tarsis Capital Corp.

December 21, 2007 19:12 ET

Tarsis Closes Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 21, 2007) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

Tarsis Capital Corp. (TSX VENTURE:TCC) ("Tarsis") is pleased to announce that it has closed the flow through portion of the non-brokered private placement announced on November 8, 2007 and November 15, 2007. The total flow through shares issued will be 888,223 for total proceeds of $799,400, which is less than previously announced due to one party electing not to complete its portion of the financing.

The Company previously announced, on December 12, 2007, that it had closed the hard dollar portion of the non-brokered private placement to raise a total of $1,581,823 million by issuing 2,259,747 Units. Each unit comprises one common share and one half of one 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 aggregate financing, including the non-flow through and flow through placements, has resulted in the Company raising $2,381,223 by issuing 888,223 flow through shares and 2,259,747 units as described above.

As part of the transaction the Company issued 84,350 finder's warrants and paid finder's and due diligence fees of $70,315. Each finder's warrant will allow the holder to purchase one common share for a period of eighteen months for $0.70 per share.

These private placements are subject to the approval of the TSX Venture Exchange.

Tarsis is a junior exploration company with six mineral properties in the Yukon and one in Mexico.

This press release, required by applicable Canadian laws, is not for distribution to U.S. News Services or for dissemination in the United States, and does not constitute an offer of the securities described herein. These securities have not been registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. Persons unless registered or exempt therefrom.

On behalf of the Board of Directors,

Marc G. Blythe, 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