- Delta has closed the final tranche of its private placement financing
- The company received gross proceeds of $3,363,450
- In the second tranche, Delta issued 503,703 cash units at a price of $0.27 per unit
- Delta has also received support from three Quebec-based institutional funds for this financing
- The net proceeds of the financing will be used for exploration including drill campaigns at its properties in Ontario and Quebec, and for general working capital
- Delta Resources Limited (DLTA) is up 6.25 per cent and is trading at $0.25 per share as of 2:17 p.m. EST
Delta Resources Limited (DLTA) has completed a non-brokered private placement.
Delta closed the second and final tranche of this financing in the amount of $200,999.90.
Gross proceeds from the financing totalled $3,363,450.
In the second tranche, Delta issued 503,703 cash units at a price of $0.27 per unit for gross proceeds of $135,999.90. Each unit consists of one common share and one-half of a common share purchase warrant exercisable for up to 24 months from closing at $0.40.
Delta also issued 161,290 national flow-through units at a price of $0.31 per unit, for gross proceeds of $50,000.
Each unit consists of one national flow-through common share and one-half of a common share purchase warrant exercisable for two years from closing at a price of $0.45.
Additionally, Delta issued 44,117 Quebec flow-through units at a price of $0.34 per unit, for gross proceeds of $15,000.
Each unit consists of one Quebec flow-through common share and one-half of a common share purchase warrant exercisable at the same price per unit for two years.
The net proceeds of the financing will primarily be used for exploration including drill campaigns at its properties in Ontario and Quebec, and for general working capital.
Delta has also received significant support from three Quebec-based institutional funds for this financing including SIDEX L.P., The Société de Dévelopment de la Baie-James and The Fonds régionaux de solidarité FTQ.
Delta Resources Limited (DLTA) is up 6.25 per cent and is trading at $0.25 per share as of 2:17 p.m. EST.