Business
Deeprock Minerals Intends to Close First Tranche of Private Placement
Vancouver, BC – TheNewswire - May 31, 2024 – DeepRock Minerals Inc. (CSE: DEEP) ("DeepRock" or "the Company"), announces today that pursuant to its news release
About this update from Allied Critical Metals Inc.
[{"type":"text","content":"Vancouver, BC – TheNewswire - May 31, 2024 – DeepRock Minerals Inc. (CSE: DEEP) (\"DeepRock\" or \"the Company\"), announces today that pursuant to its news release dated March 20, 2024, it intends to close the first tranche of its non-brokered private placement on or around Monday June 10, 2024. The private placement is an offering of Units at $0.02 each for gross proceeds of up to $500,000. Each Unit will consist of one common share of the Company (a “Share”) and one-half of a non-transferable common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase a Share for $0.06 during the 24 months following the Warrant’s issuance date. The Company will provide further details in a subsequent news release upon closing in respect of the number of securities issued and gross proceeds raised. All securities issued will be subject to a statutory four-month hold. Some of the Company’s directors and officers will be participating in the private placement. The participation of the Company’s directors and officers, and other related parties in the Private Placement would be considered a \"related party transaction\" pursuant to Multilateral Instrument 61-101—Protection of Minority Security Holders in Special Transaction (\"MI 61-101\"). The Company is exempt from the requirements to obtain formal valuation and minority shareholder approval in connection with the Insiders' participation in the private placement by relying on Section 5.5(b) of MI 61-101 (as the Company is not listed on a \"specified market\") and Section 5.7(1)(b) of MI 61-101 (as the private placement is a distribution of securities for cash not exceeding $2,500,000 which has been approved by independent directors). The private placement is not expected to result in the creation of a new control person of the Company. To the Company’s knowledge, there is no material information concerning the Company or its securities that has not been generally disclosed. About DeepRock Minerals DeepRock Minerals is a Canadian mineral exploration company headquartered in Vancouver, British Columbia engaged in the acquisition, exploration, and development of mineral resource properties. On Behalf of the Board of Directors Andrew Lee President/CEO/Director 604-720-2703 / [email protected] Cautionary Note Regarding Forward-Looking Statements Neither ...