Deep-South Resources (DSM) has closed a non-brokered private placement for gross proceeds of $ 695,000 The company issued a total of 13,900,000 units at $ 0.05 per unit The proceeds will be used primarily for further exploration of its projects in Zambia Deep-South Resources is a mineral exploration and development company Deep-South Resources (DSM) is unchanged on the day, trading at C$ 0.06 per share at 3:15 pm ET
Deep-South Resources (DSM) has closed a non-brokered private placement for gross proceeds of $ 695,000.
The company issued a total of 13,900,000 units at $ 0.05 per unit under the offering. Each unit consists of one common share and one-half of one share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of $ 0.10 per share for a period of three years from the closing date of the offering.
The company paid a cash finder’s fee of $ 20,220 and issued 404,400 non-transferable finder warrants to eligible finders.
All securities issued are subject to a statutory four-month hold period.
The proceeds of the private placement will be used for further exploration of its projects in Zambia and for general working capital.
About Deep-South Resources Inc.
Deep-South Resources is a mineral exploration and development company whose growth strategy is focused on the exploration and development of assets in mineralized trends. By using environmentally friendly technologies in the development of its copper projects, Deep-South embraces the green revolution.
Deep-South Resources (DSM) is unchanged on the day, trading at C$ 0.06 per share at 3:15 pm ET.
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Deep-South Resources (TSXV:DSM) closes non-brokered private placement raising 5,000