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DLP Resources Announces Non-Brokered Private Placement to be Made Available to Existing Shareholders
Cranbrook, British Columbia--(Newsfile Corp. - November 3, 2022) - DLP Resources Inc.  ...
About this update from Dlp Resources, Inc.
[{"type":"text","content":"DLP Resources Announces Non-Brokered Private Placement to be Made Available to Existing ShareholdersCranbrook, British Columbia--(Newsfile Corp. - November 3, 2022) - DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF) (\"DLP\" or the \"Company\") announces that, further to its news release dated October 4, 2022, the Company intends to make its previously announced non-brokered private placement of up to 8,000,000 units of the Company (the \"Units\") at a price of $0.25 per Unit (the \"Private Placement\") available to existing shareholders of the Company who, as of the close of business on November 2, 2022, held common shares of the Company (and who continue to hold such common shares as of the closing date), pursuant to the prospectus exemption set out in BC Instrument 45-534 - Exemption From Prospectus Requirement for Certain Trades to Existing Security Holders (the \"Existing Shareholder Exemption\"). The Existing Shareholder Exemption limits a shareholder to a maximum investment of CAD$15,000 in a 12-month period unless the shareholder has obtained advice regarding the suitability of the investment and, if the shareholder is resident in a jurisdiction of Canada, that advice has been obtained from a person that is registered as an investment dealer in the jurisdiction. If the Company receives subscriptions from investors relying on the Existing Shareholder Exemption exceeding the maximum amount of the Private Placement, the Company intends to adjust the subscriptions received on a pro-rata basis.Each Unit will consist of one common share (a \"Share\") of the Company and one common share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder to purchase one additional Share of the Company at a price of $0.40 per Share for a period of twenty-four (24) months from the date of closing. The Warrants are subject to an acceleration clause in the event the trading price of the Shares equals or exceeds $0.50 per Share for a period of ten (10) consecutive days.The Company intends to pay finder's fees in connection with the Private Placement to certain eligible finders in the form of: (i) a cash commission of 7.0% of the gross proceeds raised under the Private Placement from investors introduced to the Company by the finder; and (ii) the issuance of such number of non-transferable common share purchase warrants...