Deep-South Resources (DSM) has closed the final tranche of a non-brokered private placement for gross proceeds of $ 490,000 The oversubscribed offering included 14 million units at a subscription price of $ 0.05 per unit for total gross proceeds of $ 700,000 Proceeds will be used to fund further exploration of the company’s projects in Zambia and for general working capital Deep-South Resources is a mineral exploration and development company Deep-South Resources Inc. (DSM) is up 7.69 per cent on the day, trading at C$ 0.07 per share at 2 pm ET
Deep-South Resources (DSM) has closed the final tranche of an oversubscribed, non-brokered private placement for gross proceeds of $ 490,000.
The offering included a total of 14,000,000 units at a subscription price of $ 0.05 per unit for gross proceeds of $ 700,000. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one more common share at C$ 0.10 for thirty-six months from the closing of the private placement.
Each security issued is subject to a statutory four-month hold period.
Proceeds will be used to fund further exploration of the company’s projects in Zambia and for general working capital.
Deep-South Resources is a mineral exploration and development company focused on developing assets in significant mineralized trends. Using environmentally friendly technologies in the development of its copper projects, Deep-South embraces the green revolution.
Deep-South Resources Inc. (DSM) is up 7.69 per cent on the day, trading at C$ 0.07 per share at 2 pm ET.
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Deep South Resources (TSXV:DSM) closes oversubscribed non-brokered private placementStock