Deep-South has closed a private placement
Vancouver, B.C., Canada – May 8, 2017 – Deep-South Resources Inc. ("Deep-South" or “the Company") (TSX-V: DSM) is pleased to announce that it has closed a non-brokered private placement for gross proceeds of up to $206,140 (“the Offering”).
The non-brokered private placement comprises 937,000 units (the “Units”) of Deep-South, at a subscription price of $0.22 per Unit. Each Unit consist of one (1) common share and one (1) common share purchase warrant (“Warrant”) of Deep-South. Each full Warrant entitles the holder thereof to purchase one (1) Deep-South common share at an exercise price of $0.30 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.
About Deep-South Resources Inc.
Deep-South Resources Inc. is a mineral exploration company with a large Namibian shareholding, actively involved in the acquisition, exploration and development of major mineral properties in Namibia and Canada. Deep-South growth strategy is to focus on the exploration and development of quality assets, in significant mineralized trends, 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 Tim Fernback at 604.340.3774 or at firstname.lastname@example.org.
Deep-South discloses a NI 43-101 Indicated Resource of 457 mt @ 0.31% CU and an Inferred Resource of 342 mt @ 0.29% CU and mets is near to completing a Preliminary Economic Assessment (PEA) on Haib Copper in Namibia.