- 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.