|By Marketwired .||
|August 22, 2014 01:35 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/22/14 -- Tarsis Resources Ltd. (TSX VENTURE: TCC) ("Tarsis" and "the Company") is pleased to announce that the Company has arranged a private placement of 5 million units at $0.05 cents to raise $250,000.
In keeping with Tarsis's goal of limiting the dilution to its shareholders, this is the second small financing this year to move the company ahead to its next milestone.
Tarsis's immediate efforts are on optioning out its projects, acquiring new prospective projects coming available due to the downturn in the equity markets for junior explorers, and considering strategic mergers or acquisitions to expand the operations of the company.
The financing units are comprised of one common share and one common share purchase warrant which entitles the holder to buy another common share at $0.10 for a period of three years.
As a Prospect Generator, Tarsis works to facilitate the majority of its exploration funding through option partnerships. Tarsis has advanced 4 of its projects with funding from JV partners totalling just over $5 million with no shareholder dilution for those expenditures. Tarsis has retained all data on those projects and continues to advance its projects and present data to qualified partners who may option the projects.
Marc Blythe, President & CEO, commented that "We have some excellent projects and while it is a slow period for optioning out projects, we are very active in presenting projects to potential partners with site visits underway, and our low overhead costs are an asset."
US SEC Registration on Form 20-F
Tarsis has also completed the filing and review process for Form 20-F with the US SEC which allows Tarsis' greater access to investment from US investors and standardizes public disclosure format for easy comparison to US domestic issuers.
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.
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.
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