Deep-South Resources to Acquire 75% of the Kapili Tepe Copper, Nickel, Cobalt and Gold Project in Turkey, Will Proceed with a Private Placement and Will Seek a Listing in London

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[{"type":"text","content":"Deep-South Resources to Acquire 75% of the Kapili Tepe Copper, Nickel, Cobalt and Gold Project in Turkey, Will Proceed with a Private Placement and Will Seek a Listing in London(via TheNewswire)\n \n \nVancouver, B.C., Canada / TheNewswire / June 19, 2018 - Deep-South Resources Inc. (\"Deep-South\" or \"the Company\") (TSX-V: DSM) announces that it has signed an agreement (the \"Agreement\") to acquire from Baltic Investment Group ApS (\"Baltic\"), 75% of the Kapili Tepe project in the Sivas Province in the North Central part of Turkey. Furthermore, Deep-South will acquire all the exploration and metallurgical data from Afrasia Mining & Energy Investment Holdings Ltd (\"Afrasia\").\n\n \n \nUpon completion of a satisfactory due diligence, Deep-South shall acquire all the common shares held by Baltic in RCR Quantum (\"Quantum\"), a Turkish company, which holds the Kapili Tepe project comprising one (1) mining license and two (2) exploration licenses. Deep-South shall acquire the shares in consideration for the following common shares of Deep-South to Baltic: \n\n \n \n\n\naUpon Closing Deep-South shall issue 3.5 million common shares to Baltic and; \n\n\n\n\n \n\n\nbUpon completion of a resources estimation prepared in accordance with CIM definitions and compliant with the National Instrument 43-101, estimating an inferred resource totaling a minimum of 20 million tonnes at a minimum grade of 1% Cu equivalent, Deep-South shall issue common shares to Baltic for a valuation of CA $ 2.4 million; \n\n\n\n\n \n\n\ncIn 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 Baltic for a valuation of CA $ 2 million; \n\n\n\n\n \n\n\ndA first NI 43-101 resource estimation report shall be completed by March 31, 2019. Deep-South shall not be allowed to sell its interest in Quantum until the first NI 43-101 resource estimation is completed; \n\n\n\n\n \n\n\neUpon Closing Baltic shall hold the right to appoint one Director to the Board of Deep-South; \n\n\n\n\n \nThe Agreement is conditional to the approval of the TSX Venture Exchange and the Ministry of Ene...

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