Tarsis Resources Ltd. (TSXV:TCC) has arranged a private placement of 5 million units at $0.05 cents for proceeds of $250,000. The company also reported that it has filed its US SEC Registration Statement of Form 20-F.
As quoted in the press release:
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.
Tarsis president and CEO, Marc Blythe, said:
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.