Deep-South Private Placement Over-Subscribed and Increases the Offering to $2.5 Million

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[{"type":"text","content":"Deep-South Private Placement Over-Subscribed and Increases the Offering to $2.5 Million\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, B.C., Canada -\n \n \n TheNewswire -\n \n \n September 30, 2020\n \n \n -\nDeep-South Resources Inc. (\"\n \n \n Deep-South\n \n \n \" or\n \n \n the\n \n \n \"\n \n \n Company\n \n \n \") (TSXV:DSM) announces that its non-brokered private\nplacement (\"the Offering\") is over-subscribed and the\nCompany will increase the Offering to $2.5 million. The\n \n \n Company will proceed with a second closing during the first\nweek of October 2020. A first closing totaling $1,373,200 was\nannounced on September 10, 2020.\n \n \n \n \n The total Offering will comprise up to 25,000,000 units\n(the \"Units\") of Deep-South, at a subscription price of\n$0.10 per Unit. Each Unit will consist of one (1) common share and one\nhalf (1/2) of one common share purchase warrant (\"Warrant\").\n Each Warrant will entitle the holder thereof to purchase one (1)\ncommon share at an exercise price of $0.15 for thirty-six (36) months\nfrom the date of closing of the placement. Each security issued has a\nmandatory four (4) month hold period from the date of closing of the\nplacement.\n \n \n \n \n Finders fees may be paid on portions of the offering.\nThe private placement is subject to the approval of the TSX Venture\nExchange.\n \n \n \n \n The funds will be used to further exploration and\ndevelopment of the Haib Copper project in Namibia and for general\nworking capital.\n \n \n \n \n About Deep-South Resources\nInc.\n \n \n \n \n Deep-South Resources Inc. is a mineral exploration\ncompany largely held by Namibian shareholders and Management with 25%\nand Teck Resources Ltd with 28% of Deep-South share capital.\nDeep-South currently holds 100% of the Haib Copper project in Namibia,\none of the largest copper porphyry deposits in Africa. Deep-South also\nholds 75% of the Kapili Tepe Copper exploration project in Turkey. \nDeep-South's growth strategy is to focus on the exploration and\ndevelopment of quality assets, in significant mineralized zones, close\nto infrastructure, in stable\n \n \n countries.\n \n \n \n \n This press release contains certain\n\"forward-looking statements,\" as identified in Deep- South's\nperiodic filings with Canadian Securities Regulators that involve...

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