GREAT NEWSKinross buys in
Tarsis arranges $1.6-million private placement
2011-04-19 09:27 ET - News Release
Shares issued 24,671,845
TCC Close 2011-04-18 C$ 0.55
Also News Release (C-K) Kinross Gold Corp (2)
Mr. Marc Blythe reports
TARSIS ANNOUNCES $1.6 MILLION PRIVATE PLACEMENT, KINROSS TAKES 9.9% STAKE
Tarsis Resources Ltd. has agreed to complete a non-brokered private placement of 2,710,891 shares at a price of 60 cents for gross proceeds of $1,626,534.60, subject to acceptance for filing by the TSX Venture Exchange.
Kinross Gold Corp. has agreed to purchase all 2,710,891 shares (approximately 9.9 per cent of the company's issued and outstanding). Tarsis has agreed to grant Kinross the right to maintain its percentage ownership during future financings.
President and chief executive officer, Marc Blythe, commented: "We are very pleased to have attracted the attention of Kinross, one of the world's largest gold producers. Their interest affirms our corporate and exploration strategies."
The financing proceeds will be used for mineral exploration in the Yukon and Mexico, the review of new projects and general corporate purposes.