DuSolo Fertilizers Inc. (TSXV:DSF) announced has closed its previously announced non-brokered private placement raising $2,434,500.
A total of 24,345,000 units of the company were issued at a price of 10 cents per unit. Each unit consists of one common share of the company and one-half common share purchase warrant. Each whole warrant entitles the holder to acquire one common share at an exercise price of 15 cents until Oct. 1, 2018.
DuSolo Fertilizers CEO, Darren Bowden, stated:
DuSolo is pleased with the support it received from the market. The company has already started using these proceeds to further optimize operations at Bomfim, increase sales within the region, further delineate the initial resource estimate at Santiago and move ahead with exploration at Sao Roque.