Source: Deep-South Resources Inc.
  • 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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