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DEEP-SOUTH CLOSED $695,000 OF A NON-BROKERED PRIVATE PLACEMENT
DEEP-SOUTH CLOSED $695,000 OF A NON-BROKERED PRIVATE PLACEMENT Canada NewsWire ...
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[{"type":"text","content":"\n \n \n \n DEEP-SOUTH CLOSED $695,000 OF A NON-BROKERED PRIVATE PLACEMENT\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Feb. 14, 2023\n \n \n /CNW/ - Deep-South Resources Inc. (\"\n \n Deep-South\n \n \" or the Company) (TSXV: DSM) announces that it has closed the second and final tranche of its previously announced non-brokered private placement (the\n \n \"Private Placemen\n \n t\").  In the first tranche 4,200,000 units (each a \"\n \n Unit\n \n \") and in the second tranche 9,700,000 Units for a total of 13,900,000 at a price of\n \n $0.05\n \n were issued for aggregate gross proceeds of\n \n $695,000\n \n .  Each Unit was priced at\n \n $0.05\n \n and consists of one common share and one-half (1/2) of one common share purchase warrant (a \"\n \n Warrant\"\n \n ).  Each whole warrant entitles the holder to purchase one common share of the Company at a price of\n \n $0.10\n \n per share for a period of thirty six (36) months from the date of closing.\n \n \n \n \n \n \n \n \n \n In aggregate, the two tranches of the Private Placement consisted of 13,900,000 Units for gross proceeds of\n \n $695,000\n \n .  In connection with the closing of the two tranches of the Private Placement, the Company paid aggregate cash finder's fee of\n \n $20,220\n \n and issued 404,400 non-transferable finder warrants of which entitle the holder to purchase one common share of the Company at a price of\n \n $0.10\n \n per share for a period of thirty six (36) months from the date of closing the Private Placement.\n \n \n Existing insiders participated in the private placement for an aggregate amount of\n \n $10,000\n \n being 1.44% of the private placement.\n \n \n All securities issued pursuant to the Private Placement are subject to a four-month hold period from the closing date in accordance with applicable securities laws.\n \n \n A portion of the Private Placement constitutes a \"related party transaction\" within the meaning of TSXV Policy 5.9 and Multilateral Instrument 61-10...