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Lakewood, Colorado, October 22, 2012 - Taranis Resources Inc. ("Taranis") [TSX.V: TRO] announces the closing of the initial tranche of the private placement announced September 6, 2012. The initial tranche consisted of the sale of 563,334 units at $0.15 per unit, for proceeds of $84,500, each unit consisting of one flow-through common share and one-half (1/2) of a share purchase warrant, with each whole warrant entitling the holder to purchase one common share at a price of $0.30 until October 22, 2013. All of the securities issued pursuant to the closing of the initial tranche are subject to a hold period until February 23, 2013.
Taranis currently has 35,349,989 shares issued and outstanding (42,534,824 shares on a fully-diluted basis).
TARANIS RESOURCES INC.
Per:John J. Gardiner (P. Geol.),
President and CEO
For further information contact:
------------------------------------------------------------ |John Gardiner |George Kent | |14247 West Iliff Avenue |Suite 1406, 130 Carlton Street| |Lakewood, Colorado |Toronto, Ontario | |Phone: (303) 716-5922 |Phone: (416) 323-0783 | |Cell: (720) 209-3049 |Cell: (416) 697-0783 | |johnjgardiner@earthlink.net|georgerkent@sympatico.ca | | | | ------------------------------------------------------------
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 NEWS RELEASE.
This News Release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from expected results.
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