DEEP:CC - DeepRock Minerals Announces Non-Brokered Private Placement and Annual General and Special Meeting Date
(TheNewswire)
April 6, 2022 – TheNewswire - Vancouver, British Columbia - DeepRock Minerals Inc. (“DeepRock” or the “Company”) (CSE:DEEP), is pleased to announce anon-brokered private placement financing of up to 20,000,000 units ofthe Company (the “ Units ”) at a price of CAD$0.05 per Unit foraggregate gross proceeds of up to CAD$1,000,000 (the “ Offering ”) whichmay be increased if the Offering is over-subscribed.
Each Unit will consist of one (1) common share in thecapital of the Company and one (1) common share purchase warrant (the“ Warrant ”). Each Warrant will be exercisable by the warrant holderto acquire one (1) additional common share at a price of CAD$0.06 fora period of twenty-four (24) months from the closing of the PrivatePlacement (the “ Closing Date ”).
The proceeds from the Offering will be used by theCompany primarily for working capital and tofund the exploration and development of the Company's p rojects in New Brunswick and Romania .The Offering is expected to close on or about May 12, 2022.
In consideration of the introduction to the Company ofinvestors in the Offering, finder's fee may be paid in cash or insecurities of the Company in accordance with applicable securities laws and CSE policies .
The completion of the Offering will be subject toreceipt of and all necessary regulatory approvals, including, approvalby the Canadian Securities Exchange. Thesecurities issued in connection with the Offering will be subject to afour-month hold period under applicable Canadian securities lawscommencing on the Closing Date of the Offering.
It is anticipated that insiders of the Company willparticipate in the Offering. Participation of insiders of theCompany in the Offering will constitute a related party transaction asdefined under Multilateral Instrument 61-101 - Protection of Minority Security Holders inSpecial Transactions (“ MI 61-101 ”). TheCompany intends to rely on the exemption from the formal valuationrequirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(a)of MI 61-101 and the exemption from the minority approval requirementsof Section 5.6 of MI 61-101 pursuant to Subsection 5.7(1)(a) of MI61-101.
The Company also wishes to announce the annual generaland special meeting of shareholders (the “ Meeting ”) will beheld on June 17, 2021. In connection of the upcoming Meeting, thenotice of meeting and record date will be filed on SEDAR in duecourse.
For more information, please contact:
Andrew Lee, CEO and Director
Telephone: (778) 302-2257 | Email:andrew.deeprock@gmail.com
The CSE has not reviewed and does not acceptresponsibility for the adequacy or accuracy of this release. This newsrelease may contain “forward-looking statements”, includingstatements relating to the expected completion of the PrivatePlacement, and statements about the future based on currentexpectations or beliefs. For this purpose, statements of historicalfact may be deemed to be forward-looking statements. Forward-lookingstatements by their nature involve risks and uncertainties, and therecan be no assurance that such statements will prove to be accurate ortrue. Investors should not place undue reliance on forward-lookingstatements.
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