Deep-South has Signed an Off Take Agreement with Euro Alloys Ltd on its Haib Copper Project in Namibia

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[{"type":"text","content":"Deep-South has Signed an Off Take Agreement with Euro Alloys Ltd on its Haib Copper Project in Namibia(via TheNewswire)\n \n \nVancouver, B.C., Canada / TheNewswire / March 8, 2019 - Deep-South Resources Inc. (\"Deep- South\" or \"the Company\") (TSX-V: DSM) announces that it has entered into an off-take agreement with Euro Alloys Ltd (\"Euro Alloys\") for 20% of the eventual annual production from the Haib Copper project in Namibia. Euro Alloys has acquired shares of Deep-South in the recent private placement closed on March 5, 2018 and holds 8.04 % of Deep-South's share capital. \n\n \n \nEuro Alloys shall have the right to buy up to 20,000 metric tons per annum of the expected production of copper cathodes produced at Haib Copper representing about 20% of the eventual production. The buying price will be established by the average Grade A copper cash price published by the London Metal Exchange (\"LME\") for the month prior to the acquisition. The price will be discounted of US $ 10 per metric ton and discounted of the transport cost to load port.\n\n \n \nEuro Alloys has the right to appoint a Director to the Board of Directors of Deep-South. The nomination will be conditional to the approval of the TSX Venture Exchange. Euro Alloys has also been granted an option to acquire one (1) million common shares of Deep-South at an exercise price of $0.15 during a period of twelve (12) months from the date of the agreement.\n\n \n \nMr. John Akwenye, Chairman of Deep-South stated, \"We are very happy with this transaction. Euro Alloys will bring a lot of knowledge and contacts to help in the development of the Haib Copper project. We are confident that Euro Alloys will be an added value for our shareholders.\"\n\n \n \nAbout Euro Alloys Ltd\n\n \n \nFormed in 1990, Euro Alloys is a Proprietary Trader specialising in the purchase and sale of Aluminium and Copper Rod and other base metals products, including Copper, Zinc and Lead in the form of scrap, primary and secondary products with activity throughout the World. Euro Alloys is a subsidiary of the Sural Group, which was founded in Venezuela in 1975 and present in Quebec, Canada since 1993. Sural produces excellent quality aluminium rods for electrical and mechanical applications. www.euro-alloys.com\n\n \n \nAbout Deep-South Resources Inc.\n\n\n \n\n\n\n \nDeep-South Resources Inc...

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