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Delta Resources Limited (TSXV: DLTA,OTC:DTARF) (OTC Pink: DTARF) (FSE: 6G01) ("Delta" or "The Company") is pleased to announce that it has closed the second and final tranche of its non-brokered private placement offering (the "Offering"), as previously announced on April 23, 2026. The Company has issued an additional 3,290,498 Charity Flow-Through Units (the "FT Units") for $0.245 per Charity Flow-Through Unit, for aggregate gross proceeds of $806,172 (the "Private Placement").
Each FT Unit consists of one flow-through common share of the Company ("FT Share") and one half of one non-flow-through common share purchase warrant ("Warrant"), with each whole Warrant being exercisable to acquire an additional non-flow-through common share of the Company at $0.28 for a period of 30 months from the date of issuance.
The upsized agreement announced on April 23, 2026 with Wealth Creation Preservation & Donation Inc. ("WCPD") was for a non-brokered structured private placement offering, consisting of the issuance of up to 26,530,614 Charity Flow-Through Units at a price of $0.245 per FT Unit, to raise gross proceeds of up to $6,500,000.43, each FT Unit consisting of one (1) flow-through common share of the Company and one-half of one non-flow-through common share purchase warrant.
With the first and second tranches, Delta has closed a total of 26,786,164 units for gross proceeds of $6,562,610.
The gross proceeds raised from the issuance of the FT Units will be used to fund "Canadian exploration expenses" within the meaning of subsection 66.1(6) Income Tax Act (Canada).
All securities issued pursuant to the Private Placement are subject to a statutory four-month hold period in Canada.
The Company paid finders fees consisting of cash commissions of $11,999.93 and 66,666 compensation warrants to certain eligible 3rd parties, with each compensation warrant entitling the holder thereof to purchase one common share in the capital of the Company at $0.28 per common share for a period of 30 months following the closing of the Offering.
The Private Placement is subject to receipt of final approval of the TSX Venture Exchange.
Qualified Person
Daniel Boudreau, P.Geo., Vice President of Exploration at Delta Resources Limited, is the Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.
About Delta Resources Limited
Delta Resources is a Canadian mineral exploration and development company focused on its Delta-1 Gold Project in Ontario, where it has identified a large, near-surface gold system located approximately 50 km west of Thunder Bay, adjacent to the Trans-Canada Highway.
The Eureka Gold Deposit extends over 2.5 km in strike length and to depths exceeding 300 metres, with mineralization observed to approximately 600 metres vertical depth and remaining open in all directions. The property spans 340 km² and hosts multiple prospective mineralized corridors.
Highlights include drill intercepts such as 5.92 g/t Au over 31 m (including 14.8 g/t Au over 11.9 m) and 1.79 g/t Au over 128.5 m.
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:
Frank Candido, Chairman
Tel: 514-969-5530
fcandido@deltaresources.ca
Ron Kopas, CEO
rkopas@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. 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 event.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299016
