Deep-South has Closed a First Tranche of its Private Placement and Plans the Second Closing

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Return to homepage

(TheNewswire)



                                                   

Vancouver, B.C., Canada / TheNewswire / November 23, 2018 – Deep-South Resources Inc. ("Deep-South" or “the Company") (TSX-V: DSM) announces that it has closed a first tranche totalling $165,000 of its current private placement. A second closing is under planning and is expeted within two weeks.

 

The non-brokered private placement comprises 1,650,000 units (the “Units”) of Deep-South, at a subscription price of $0.10 per Unit. Each Unit will consist of one (1) common share and one half (1/2) of one common share purchase warrant (“Warrant”) of Deep-South.  Each full Warrant will entitle the holder thereof to purchase one (1) Deep-South common share at an exercise price of $0.20 during a period of thirty-six (36) months from the date of closing of the placement. Each security issued pursuant to the placement has a mandatory four (4) months holding period from the date of closing of the placement.

 

The Company has paid Foster & Associates a finder’s fee of $1,280 and issued 12,800 Compensation Warrants. The Compensation Warrants have the same terms and conditions as the Warrants. Each security issued pursuant to the placements has a mandatory four (4) months hold period from the date of closing of the placements.

  

About Deep-South Resources Inc.

 

Deep-South Resources Inc. is a mineral exploration company largely held by Namibian shareholders and Teck Resources Ltd, which holds about 35% of Deep-South share capital. Deep-South is actively involved in the acquisition, exploration and development of major mineral properties. Deep-South currently holds 100% of the Haib Copper project in Namibia, one of the largest copper porphyry deposits in Africa. Deep-South is currently completing the acquisition of the Kapili Tepe project in Turkey, an important copper, nickel, cobalt and gold exploration target. Deep-South’s growth strategy is to focus on the exploration and development of quality assets, in significant mineralized  zones, close to infrastructure, in stable countries.  

 

This press release contains certain "forward-looking statements," as identified in Deep-South’s periodic filings with Canadian Securities Regulators that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.  

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  

More information is available by contacting Pierre Léveillé, President & CEO at

+1-819-340-0140 or at: [email protected] or

Paradox Public Relations at +1-514-341-0408.

  

Copyright (c) 2018 TheNewswire - All rights reserved.