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DLP Resources Announces Closing of Second Tranche of Private Placement of Units and Grant of Restricted Share Units
Cranbrook, British Columbia--(Newsfile Corp. - December 15, 2022) - DLP Resources Inc.  (T...
About this update from Dlp Resources, Inc.
[{"type":"text","content":"DLP Resources Announces Closing of Second Tranche of Private Placement of Units and Grant of Restricted Share UnitsCranbrook, British Columbia--(Newsfile Corp. - December 15, 2022) - DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF) (the \"Company\") is pleased to announce that it has closed the second tranche of its previously announced non-brokered private placement (the \"Second Tranche\"), whereby the Company has completed the issuance of 975,600 units (each, a \"Unit\") at a price of $0.25 per Unit for gross proceeds of $243,900.Each Unit consists of one common share in the capital of the Company (a \"Share\") and one common share purchase warrant of the Company (each whole warrant, a \"Warrant\"). Each Warrant entitles the holder to purchase one common share in the capital of the Company (a \"Warrant Share\") for a period of two (2) years from the date of issue at an exercise price of $0.40 per Warrant Share, subject to acceleration in the event that the trading price of the Shares equals or exceeds $0.50 for a period of 10 consecutive days.In connection with the Second Tranche, the Company issued 58,492 finder's warrants (the \"Finder's Warrants\") and paid commissions of $14,623. Each Finder's Warrant will entitle the holder, on exercise thereof, to acquire one additional Share at a price of $0.25 per share for a period of two (2) years from the date of issuance. The securities offered in the Second Tranche are subject to a four month and a day transfer restriction from the date of issuance expiring on April 16, 2023, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada. The Company intends to use the proceeds of the Second Tranche for funding the Company's Peru projects and general office and administration requirements.Restricted Share Unit GrantThe Company also announces that a total of 50,000 restricted share units (the \"RSUs\") have been granted to a consultant of the Company pursuant to the Company's long-term incentive plan. Each RSU entitles the holder to acquire one common share of the Company on vesting. All 50,000 RSUs will vest on December 15, 2023.Not for distribution to U.S. news wire services or dissemination in the United States.About DLP Resources Inc.DLP Resources Inc. is a mineral exploration company operating in Southeastern B...