- DLP Resources (DLP) has closed the first tranche of a non-brokered private placement for gross proceeds of $845,800
- Under the first tranche, the company issued 3,383,200 units at $0.25 per unit
- The company intends to use the proceeds of the first tranche primarily to fund the company’s projects in Peru
- DLP Resources is a mineral exploration company operating in Southern Peru and Southeastern British Columbia
- DLP Resources Inc. (DLP) is unchanged on the day, trading at C$0.24 per share at 3 pm ET
DLP Resources (DLP) has closed the first tranche of a non-brokered private placement for gross proceeds of $845,800.
Under the first tranche, the company issued 3,383,200 units at $0.25 per unit. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one additional common share for a period of two years.
Warrants are subject to an acceleration clause.
The company issued 117,824 finder’s warrants and paid commissions of $29,456.
The securities issued are subject to a statutory four-month hold period.
The company intends to use the proceeds of the first tranche to fund the company’s projects in Peru and general office and administration requirements.
Mr. Gendall, President and CEO, commented on the capital raise.
“With the closing of the first tranche of the private placement, we can complete the initial 3000m drill program on the Aurora project, which commenced in late August 2022. To date, approximately 1450m have been drilled in three holes. Complete results for A22-01 and A22-02 are expected to be released in the next 2 weeks.”
DLP Resources is a mineral exploration company operating in Southern Peru and Southeastern British Columbia, exploring for Copper, Base Metals and Cobalt.
DLP Resources Inc. (DLP) is unchanged on the day, trading at C$0.24 per share at 3 pm ET.