Deep-South Private Placement Over-Subscribed and Increases the Offering to $2.5 Million

(TheNewswire)



Deep-South Resources Inc. (" Deep-South " or the " Company ") (TSXV:DSM) announces that its non-brokered private placement ("the Offering") is over-subscribed and the Company will increase the Offering to $2.5 million. The Company will proceed with a second closing during the first week of October 2020. A first closing totaling $1,373,200 was announced on September 10, 2020

The total Offering will comprise up to 25,000,000 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"). Each Warrant will entitle the holder thereof to purchase one (1) common share at an exercise price of $0.15 for thirty-six (36) months from the date of closing of the placement. Each security issued has a mandatory four (4) month hold period from the date of closing of the placement.

Finders fees may be paid on portions of the offering. The private placement is subject to the approval of the TSX Venture Exchange.

The funds will be used to further exploration and development of the Haib Copper project in Namibia and for general working capital.

About Deep-South Resources Inc.

Deep-South Resources Inc. is a mineral exploration company largely held by Namibian shareholders and Management with 25% and Teck Resources Ltd with 28% of Deep-South share capital. Deep-South currently holds 100% of the Haib Copper project in Namibia, one of the largest copper porphyry deposits in Africa. Deep-South also holds 75% of the Kapili Tepe Copper exploration project in Turkey. 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 Leveille, President & CEO at

+1-819-340-0140 or at: info@deepsouthresources.com   or Paradox Public Relations at +1-514-341-0408

Copyright (c) 2020 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

The Conversation (0)
A person's hand holds a piece of copper metal ore above a blurry copper-colored background.

What's the Next US Copper Mine? 26 Copper Projects to Watch

Companies with upcoming copper mines in the US could be poised to benefit from tailwinds in the sector, including the new administration promising to cut "red tape" for critical minerals projects.

Copper demand is climbing quickly in recent years because of the rapid urbanization of the global south as well as the developing energy transition sectors. However, current copper mines are increasing in age and there is a lack of new copper mines to replace them, both due to limited greenfield exploration and long permitting times.

This has put the world's copper supply in a difficult situation, and experts expect to see deficits begin to emerge in 2025.

Keep reading...Show less
Rows of fine copper bars with text that reads '5 Top Canadian Mining Stocks This Week.'

Top 5 Canadian Mining Stocks This Week: Euro Sun Gains 54 Percent as Copper Hits New High

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

The US Bureau of Economic Analysis released February personal consumption expenditures (PCE) index data on Friday (March 28). The figures show inflation increased 2.5 percent on an annualized basis in February, aligning with analyst expectations and reflecting no change from the 2.5 percent recorded in January. On a monthly basis, inflation rose by 0.3 percent, also matching January’s increase.

However, core PCE, which excludes the volatile food and energy prices, increased 2.8 percent year-over-year and 0.4 percent month-over-month. Both came in above analyst expectations of 2.7 and 0.3 percent, respectively.

Keep reading...Show less
Copper nuggets and rising chart.

Copper Prices Surpass US$10,000 as US Tariff Fears Shake Global Markets

Copper prices surged past US$10,000 per metric ton on Thursday (March 20), hitting a five month high as traders scrambled to secure supply ahead of potential US tariffs on the base metal.

London Metal Exchange (LME) copper futures climbed sharply in early trading, reflecting a combination of supply constraints, rising demand and uncertainty surrounding trade policy.

US President Donald Trump has ordered a probe into the national security implications of copper imports, raising concerns that a 25 percent tariff could be imposed, similar to levies already placed on aluminum and steel.

Keep reading...Show less
Copper nuggets.

Hillgrove Accelerates Nugent Copper Deposit Development, Raises AU$16 Million

Hillgrove Resources (ASX:HGO,OTC Pink:HLGVF) said on Monday (March 17) that it is accelerating development of the Nugent deposit at its Kanmantoo copper mine after raising AU$16 million.

The company secured AU$13 million through a placement to institutional and sophisticated investors, and raised AU$3 million via a share purchase plan that was open to existing shareholders.

"Following the success of the recent excellent Nugent drilling results, our technical team have identified a path to accelerate the Nugent production profile,” said CEO and Managing Director Bob Fulker in a March 5 release.

Keep reading...Show less
The sea floor.

Kiribati Explores Deep-Sea Mining Deal with China Amid Global Regulatory Talks

Kiribati is reportedly in discussions with China to explore deep-sea mining opportunities, signaling a potential shift in its approach to tapping into its vast offshore mineral resources.

The Pacific island nation holds the exploration rights to a 75,000 square kilometer area in the Pacific Ocean, a region believed to contain valuable deposits of cobalt, nickel, and copper — key materials for the global battery industry.

The talks between Kiribati and Chinese officials come after the collapse of a previous agreement with the Metals Company (TMC) (NASDAQ:TMC), a Canada-based deep-sea mining outfit.

Keep reading...Show less

Latest Press Releases

Related News

×