Tartisan Announces Private Placement

October 01, 2014 3:41 PM EDT | Source: Tartisan Nickel Corp.

Toronto, Ontario--(Newsfile Corp. - October 1, 2014) - Tartisan Resources Corp. (CSE:TTC) ("Tartisan" or the "Company") wishes to announce a new non-brokered private-placement offering of up to 3 million Units of the Company at a price of $CDN 0.05 per Unit, for gross proceeds of up to $CDN 150,000 (the "Offering"). Each Unit will consist of one Tartisan common share and one common share-purchase warrant (the "Warrants"); each full Warrant will entitle the holder to purchase one Tartisan common share at a price of $CDN 0.10 for a period of 18 months after the closing of the Offering. This Offering replaces a previously announced financing (June 6, 2014) that has been abandoned by the Company.

A finder's fee equal to a cash commission of 8% of the aggregate gross proceeds from the Units sold, plus finder's warrants equal to 8% of the aggregate number of Units sold, will compensate qualified finders appointed by the Company to source subscriptions. All securities issued by the Offering will be subject to a hold period of four months plus one day from the date of issue. This Offering is subject to regulatory approval.

Net Proceeds from the Offering will be used to fund exploration of the Company's gold, silver and base metals projects in North-Central Perú, and for working capital purposes. The planned exploration work will include preparation for diamond drilling at La Victoria, the Company's wholly owned flagship project located in northern Ancash Department. Tartisan's land holdings are located within 50 km of several producing mines including: La Arena owned by Rio Alto Mining Ltd., Lagunas Norte (Alto Chicama) owned by Barrick Gold Corporation and Santa Rosa owned by Compañia Minera Aurífera Santa Rosa (COMARSA). Rio Alto has also recently struck a merger deal with Sulliden Gold Corp. Ltd. which should accelerate putting Sulliden's Shahuindo gold deposit, also in the vicinity, into production.

Tartisan has signed a definitive agreement with Eloro Resources Ltd. ("Eloro") granting Eloro an option to earn a 50% interest in La Victoria property; this was announced on July 3, 2014. Under the terms of that agreement, Eloro can earn the 50% interest in the Property at Eloro's option by expending $CDN 1.5 million in staged exploration and work expenditures on the Property, and making cash payments to Tartisan totalling $CDN 150,000, all over a four year period.

For further information, please contact Mr. D. Mark Appleby, CEO and a Director of the Company, at 416-804-0280 (mark@tartisanresources.com) or Mr. Phillip Shum, Investor Relations (Ubika Corp.) at 647-352-0687 (phillip@ubikacorp.com). Additional information about Tartisan can be found at the Company's website at www.tartisanresources.com.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.

Not for distribution to U.S. news wire services or dissemination in the U.S.

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