Tarsis Resources Ltd.
TSX VENTURE : TCC

Tarsis Resources Ltd.

December 16, 2013 09:30 ET

Tarsis Increases Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 16, 2013) - Tarsis Resources Ltd. (TSX VENTURE:TCC) ("Tarsis" and "the Company") is pleased to announce that the $300,000 financing announced on November 21, 2013 has been over-subscribed and increased to $362,750. The financing participants include investors that have supported Tarsis in the past and who are able to assist Tarsis in the future with potential financial and strategic support. The financing is fully subscribed and will close shortly.

Marc Blythe, President and CEO noted that "Tarsis is pleased with the strong support shown by our investors. The financial and exploration teams at Tarsis are committed to working hard to achieve good returns for these investors through the project generation model we are following in North America."

With the increase in the financing, it will now consist of 4,836,666 Units at a price of $0.075 per Unit. Each Unit is comprised of one common share and a non-transferable common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at a price of $0.15 per common share for a 36-month period starting on the closing of this offering. The securities are subject to a four-month hold period from the final closing date. Insiders participated in the offering for a total of 2,100,000 Units.

Tarsis will now have 47,973,777 common shares outstanding upon completion of this financing. The financing is fully subscribed and will be closed shortly and completed upon approval by the TSX Venture Exchange.

About Tarsis Resources

Tarsis is an exploration company following the prospect generator business model. The Company acquires prospective exploration projects by acquisition or through its own grass roots generative exploration, adds value and then vends or options out projects to partners for advancement.

On behalf of the Board,

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

This news release was prepared by Company management, which takes full responsibility for content. Neither the 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.

Contact Information

  • Tarsis Resources Ltd.
    Marc G. Blythe, P.Eng., MBA.
    President and Chief Executive Officer
    (604) 689-7644
    info@tarsis.ca

    Mark T. Brown, C.A.
    Chief Financial Officer
    (604) 687-3520
    www.tarsis.ca