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Delta Resources Announces Upsize in Bought Deal Private Placement of Flow-Through Units and Units to C$8.0 Million
Delta Resources Announces Upsize in Bought Deal Private Placement of Flow-Through Units and Units...
About this update from Delta Resources Limited
[{"type":"text","content":"\n \n \n \n Delta Resources Announces Upsize in Bought Deal Private Placement of Flow-Through Units and Units to C$8.0 Million\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n KINGSTON, ON\n \n \n ,\n \n \n April 27, 2023\n \n \n /CNW/ -\n \n Delta Resources Limited\n \n (TSXV: DLTA) (\"\n \n Delta Resources\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that in connection with its previously announced \"bought deal\" private placement financing, the Company and Cormark Securities Inc. as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters (collectively, the \"Underwriters\") have agreed to increase the size of the previously announced financing. The Company will now issue: (i) 7,143,000 \"flow-through\" units of the Company (the \"\n \n FT Units\n \n \") at a price of\n \n $0.63\n \n per FT Unit (the \"\n \n FT Issue Price\n \n \") for gross proceeds of\n \n $4,500,090\n \n ; and (ii) 7,778,000 units of the Company (the \"\n \n HD Units\")\n \n at a price of 0.45 per HD Unit (the \"\n \n HD Issue Price\n \n \") for gross proceeds of\n \n $3,500,100\n \n , for aggregate gross proceeds to the Company of approximately\n \n $8.0 million\n \n (collectively, the \"\n \n Offering\n \n \").\n \n \n Each FT Unit will be comprised of one common share of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, a \"\n \n Warrant\n \n \"), each of which will qualify as a \"flow-through share\" (within the meaning of subsection 66(15) of the\n \n Income Tax Act\n \n (\n \n Canada\n \n ).  Each HD Unit will be comprised of one common share of the Company and one-half of one Warrant.  Each Warrant will entitle the holder thereof to purchase one common share of the Company (a \"\n \n Warrant Share\n \n \") at an exercise price of\n \n $0\n \n .63 for a perio...