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Delta Resources Announces 2nd and Final Closing of Oversubscribed Private Placement
Kingston, Ontario--(Newsfile Corp. - December 23, 2022) - Delta Resources Limited  ( TSXV...
About this update from Delta Resources Limited
[{"type":"text","content":"Delta Resources Announces 2nd and Final Closing of Oversubscribed Private PlacementKingston, Ontario--(Newsfile Corp. - December 23, 2022) - Delta Resources Limited (TSXV: DLTA) (OTC Pink: DTARF) (FSE: 6GO1) (\"Delta\" or \"the Company\") is pleased to announce the closing of a 2nd and final tranche of a non-brokered private placement as previously announced December 6, 2022 [Delta Resources Announces Non-Brokered Private Placement] for total gross proceeds of $1,825,730. This amount is in addition to the first tranche previously announced on December 15, 2022 [Delta Announces Strategic Investment by Troilus Gold Corporation and First Closing of Private Placement], in the amount of $945,700. For the final tranche of this financing, Delta issued 9,585,000 Common Share units of the Company at a price of $0.10 per unit, for gross proceeds of $958,500. Each unit consists of one common share and one common share purchase warrant exercisable for up to 24 months from closing at $0.18. In addition, the Company has also issued 1,658,923 National Flow Through units of the Company at a price of $0.13 per unit, for gross proceeds of $215,660. Each unit consists of one National Flow Through common share and one half of a common share purchase warrant exercisable for up to 24 months from closing at $0.25. In addition, the Company has also issued 4,654,074 Quebec Flow Through units of the Company at a price of $0.14 per unit, for gross proceeds of $651,570. Each unit consists of one Quebec Flow Through common share and one half of a common share purchase warrant exercisable for up to 24 months from closing at $0.25.The net proceeds of the financing will predominately be used for drilling at the Delta-1 Gold property in Thunder Bay, Ontario where Delta intersected 5.92 g/t gold over 31.0 metres and included 14.80 g/t Au over 11.9 metres and 72.95 g/t Au over 2.2 metres on October 19, 2022 in addition to further exploration and drilling at the Delta-2 VMS property in Chibougamau, Quebec and general working capital.In connection with this tranche of the private placement, the Company has paid cash commissions in the aggregate amount of $98,229. As additional consideration, the Company also issued an aggregate of 875,019 non-transferable compensation warrants (the \"Compensation Warrants\") exercisable to acquire one common share of...