DLP Resources Announces Upsizing of Private Placement

About this update from Dlp Resources, Inc.

[{"type":"text","content":"DLP Resources Announces Upsizing of Private PlacementCranbrook, British Columbia--(Newsfile Corp. - March 24, 2023) - DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF) (the \"Company\") is pleased to announce that it intends to increase the size of its previously announced non-brokered private placement (the \"Private Placement\") to up to 4,281,250 flow-through common shares (each, a \"FT Share\") at a price of $0.40 per FT Share for gross proceeds of up to $1,712,500.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 March 22, 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 proceeds of the Private Placement will be used for drilling on its Copper Creek Project, follow-up sampling, prospecting and evaluation of the Hungry Creek and Redburn projects and drilling on the Moby Dick and NZOU projects. There may be circumstances, however, where, for sound business reasons, a reallocation of funds may be necessary.The Private Placement is subject to all necessary regulatory approvals including acceptance from the TSX Venture Exchange. All securities issued in connection with the Private Placement will be subject to a four-month hold period from the closing date under applic...

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