Deep-South Resources Amend the Agreement to Acquire 75% of the Kapili Tepe Copper, Nickel, Cobalt and Gold Project in Turkey

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[{"type":"text","content":"Deep-South Resources Amend the Agreement to Acquire 75% of the Kapili Tepe Copper, Nickel, Cobalt and Gold Project in Turkey(via TheNewswire)\n \n \nVancouver, B.C., Canada / TheNewswire / September 19, 2018 - Deep-South Resources Inc. (\"Deep-South\" or \"the Company\") (TSX-V: DSM) announces that it has amended the agreement (the \"Agreement\"), previously announced on June 19, 2018, to acquire 75% of RCR Quantum (\"Quantum\"), a Turkish company, which holds the Kapili Tepe project (\"Project\") comprising of one (1) mining license and two (2) exploration licenses in the Sivas Province in the North Central part of Turkey. \n\n \n \nFurthermore, Deep-South has not amended the agreement to acquire all the exploration and metallurgical data from Afrasia Mining & Energy Investment Holdings Ltd (\"Afrasia\"). \n\n \n \nDeep-South has also completed its due diligence of the Project and of Quantum and will close the acquisition upon receiving the approval from the TSX Venture Exchange.\n\n \n \nThe Acquisition\n\n \n \nFurther to the amended agreement, Deep-South shall acquire all the common shares held by Jeanette Gyldstoff Borg (\"Seller\") in (\"Quantum\"),. Deep-South shall acquire the shares in consideration for the following common shares of Deep-South to the Seller: \n\n \n \n\n\na)Upon Closing Deep-South shall issue 3.5 million common shares to the Seller and; \n\n\n\n \n \n\n\nb)Upon closing of a first financing of $ 1 million or more following the closing of the acquisition of the Shares, Deep-South shall pay CA $150,000 to the Seller ; \n\n\n\n \n \n\n\nc)Upon completion of a resources estimation prepared in accordance with CIM definitions and compliant with the National Instrument 43-101, estimating an inferred resource totalling a minimum of 20 million tonnes at a minimum grade of 1% Cu equivalent, Deep-South shall issue additional common shares to the Seller at a valuation of CA $ 2 million; \n\n\n\n \n \n\n\nd)In the case that the first resources estimation prepared in accordance with CIM definitions and compliant with the NI 43-101 or any further NI 43-101 compliant resource estimation, estimates an inferred resource totaling a minimum of 100 million tonnes at a minimum grade of 1% Cu equivalent, Deep-South shall issue additional common shares to the Seller at a valuation of CA $ 2 million; \n\n\n\n \n \n\n\ne)The...

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