Business
Deep-South Has Closed a Second Tranche of Its Private Placement
(via TheNewswire) Vancouver, B.C., Canada - TheNewswire - January 22, ...
About this update from Koryx Copper S.a.
[{"type":"text","content":"Deep-South Has Closed a Second Tranche of Its Private Placement(via TheNewswire)\n \n \nVancouver, B.C., Canada - TheNewswire - January 22, 2020 - Deep-South Resources Inc. (\"Deep- South\" or \"the Company\") (TSXV:DSM) announces that it has closed a second tranche totaling $319,000 of its current private placement. Deep-South has previously closed a first tranche totaling $267,300 of its current private placement. Please see the press release of December 23, 2019 at: https://www.deepsouthresources.com/investors/news-releases/deep-south-has-closed-a-first-tranche-of-its-private-placement-and-will-update-its-2018-pea/\n\n \n \nThe non-brokered private placement comprises 6,380,000 units (the \"Units\") of Deep- South, at a subscription price of $0.05 per Unit. Each Unit will consist of one (1) common share and one (1) common share purchase warrant (\"Warrant\") of Deep- South. Each Warrant will entitle the holder thereof to purchase one (1) Deep-South common share at an exercise price of $0.09 during a period of sixty (60) months from the date of closing of the placement. Each security issued pursuant to the placement has a mandatory four (4) months holding period from the date of closing of the placement.\n\n \n \nThe funds will serve to complete the updated PEA currently underway, plan the upcoming work program, pay some outstanding accounts and debts and cover general and administrative expenses.\n\n \n \nAbout Deep-South Resources Inc.\n\n \n \nDeep-South Resources Inc. is a mineral exploration company largely held by Namibian shareholders and Management with 25% and Teck Resources Ltd with 28% of Deep-South share capital. Deep-South currently holds 100% of the Haib Copper project in Namibia, one of the largest copper porphyry deposits in Africa. Deep-South also holds 75% of the Kapili Tepe Copper exploration project in Turkey. Deep-South's growth strategy is to focus on the exploration and development of quality assets, in significant mineralized zones, close to infrastructure, in stable countries.\n\n\n \nThis press release contains certain \"forward-looking statements,\" as identified in Deep- South's periodic filings with Canadian Securities Regulators that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could diffe...