Delta Resources Upsizing Previously Announced Financing up to $2,000,000
Delta Resources Limited has announced an increase in its non-brokered private placement financing, aiming to raise up to CAD 2,000,000 by selling at least 5,714,286 units at a price of $0.35 per unit. Each unit includes one common share and a half warrant, exercisable at $0.50 for 24 months. The proceeds will primarily fund exploration activities at the Delta-1 and Delta-2 properties in Ontario and Quebec. The offering is subject to compliance with securities laws and TSX Venture Exchange approval.
- Increased private placement financing goal to CAD 2,000,000.
- Funds will support exploration at Delta-1 and Delta-2 properties.
- The offering is subject to market conditions and may be modified.
- Securities not registered under U.S. Securities Act limits potential investor base.
KINGSTON, ON / ACCESSWIRE / September 17, 2020 / Delta Resources Limited ("Delta" or "The Company") (TSXV:DLTA)(OTCBB:GOLHF)(Frankfurt:6G01) is pleased to announce that it has increased its previously announced non-brokered private placement financing to raise up to CAD 2,000,000 from eligible participants through the sale of a minimum of up to 5,714,286 units of the Company at a price of
The Company reserves the right to modify the size of the private placement or to modify the type, nature and/or price of the units for any reason. The offering and any modification to it are subject to compliance with applicable securities laws and approval of the TSX Venture Exchange. The Company may pay finders' fees in accordance with the policies of the TSX Venture Exchange. The net proceeds of the financing will primarily be used for exploration which includes drilling at its Delta-1 and Delta-2 properties in Thunder Bay, Ontario and Chibougamau, Quebec and general working capital. Any shares issued will be subject to a four month plus one day hold period.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or the securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements .
About Delta Resources Limited
Delta Resources Limited is a Canadian mineral exploration company focused on growing shareholder value through the acquisition of high-potential gold and base-metal projects in Canada, exploring these projects with state-of-the-art methods, and potentially developing these projects into mines.
Delta is currently exploring its Eureka Gold Discovery in the Thunder Bay area (Delta-1) and its Delta-2 Gold-Polymetallic Property in the Chibougamau Mining District of Quebec.
Delta also owns a
The Company continues to focus on building upon its strong portfolio of mineral exploration properties with a high potential for economic discoveries in Canada.
ON BEHALF OF THE BOARD OF DELTA RESOURCES LIMITED.
Andre C. Tessier
President, CEO and Director
www.deltaresources.ca
We seek safe harbor. Neither 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. The TSX Venture Exchange has not approved nor disapproved of the information contained herein.
For Further Information:
Delta Resources Limited
Andre C. Tessier, CEO and President
Tel: 613-328-1581
atessier@deltaresources.ca
or
Frank Candido, Chairman
Tel : 514-969-5530
fcandido@deltaresources.ca
Cautionary Note Regarding Forward Looking Information
Some statements contained in this news release are "forward looking information" within the meaning of Canadian securities laws. Forward looking information include, but are not limited to, statements regarding the use of proceeds of the non-brokered private placement and payment of the debt settlements. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases (including negative or grammatical variations) or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Investors are cautioned that forward-looking information is inherently uncertain and involves risks, assumptions and uncertainties that could cause actual facts to differ materially. There can be no assurance that future developments affecting the Company will be those anticipated by management. The forward-looking information contained in this press release constitutes management's current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received. While we may elect to update these estimates at any time, we do not undertake to update any estimate at any particular time or in response to any particular event.
SOURCE: Delta Resources Limited
View source version on accesswire.com:
https://www.accesswire.com/606611/Delta-Resources-Upsizing-Previously-Announced-Financing-up-to-2000000
FAQ
What is Delta Resources Limited's recent private placement goal for GOLHF?
How many units will Delta Resources sell in its financing for GOLHF?
What will the proceeds of the financing for GOLHF be used for?
Are the securities offered by Delta Resources for GOLHF registered under the U.S. Securities Act?
What are the terms of the warrants associated with the units sold by Delta Resources for GOLHF?
