Business
DLP Resources Announces Private Placement of Units
Cranbrook, British Columbia--(Newsfile Corp. - August 22, 2023) - DLP Resources Inc.  (TSX...
About this update from Dlp Resources, Inc.
[{"type":"text","content":"DLP Resources Announces Private Placement of UnitsCranbrook, British Columbia--(Newsfile Corp. - August 22, 2023) - DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF) (the \"Company\") is pleased to announce a non-brokered private placement (the \"Private Placement\") of up to 6,000,000 units (each, a \"Unit\") at a price of $0.50 per Unit for gross proceeds of up to $3,000,000.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 twenty-four (24) months from the date of issue at an exercise price of $0.80 per Warrant Share, subject to an acceleration clause in the event the trading price of the Shares equals or exceeds $1.10 for a period of 20 consecutive days.The Private Placement will be made available to subscribers pursuant to the accredited investor and friends, family and business associate exemptions provided under sections 2.3(1) and 2.5 of National Instrument 45-106 Prospectus Exemptions. The Private Placement will also be made available to existing shareholders of the Company who, as of the close of business on August 21, 2023, held Shares (and who continue to hold such Shares as of the closing date), pursuant to the existing shareholder exemption set out in BC Instrument 45-534 Exemption From Prospectus Requirement for Certain Trades to Existing Security Holders (the \"Existing Securityholder Exemption\"). The Existing Securityholder 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.The Company expects 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 pro...