(TheNewswire)
Vancouver, B.C., Canada - TheNewswire - September 30, 2020 -Deep-South Resources Inc. (" Deep-South " or the " Company ") (TSXV:DSM) announces that its non-brokered privateplacement ("the Offering") is over-subscribed and theCompany will increase the Offering to $2.5 million. The Company will proceed with a second closing during the firstweek of October 2020. A first closing totaling $1,373,200 wasannounced on September 10, 2020.
The total Offering will comprise up to 25,000,000 units(the "Units") of Deep-South, at a subscription price of$0.10 per Unit. Each Unit will consist of one (1) common share and onehalf (1/2) of one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder thereof to purchase one (1)common share at an exercise price of $0.15 for thirty-six (36) monthsfrom the date of closing of the placement. Each security issued has amandatory four (4) month hold period from the date of closing of theplacement.
Finders fees may be paid on portions of the offering.The private placement is subject to the approval of the TSX VentureExchange.
The funds will be used to further exploration anddevelopment of the Haib Copper project in Namibia and for generalworking capital.
About Deep-South ResourcesInc.
Deep-South Resources Inc. is a mineral explorationcompany largely held by Namibian shareholders and Management with 25%and Teck Resources Ltd with 28% of Deep-South share capital.Deep-South currently holds 100% of the Haib Copper project in Namibia,one of the largest copper porphyry deposits in Africa. Deep-South alsoholds 75% of the Kapili Tepe Copper exploration project in Turkey. Deep-South's growth strategy is to focus on the exploration anddevelopment of quality assets, in significant mineralized zones, closeto infrastructure, in stable countries.
This press release contains certain"forward-looking statements," as identified in Deep- South'speriodic filings with Canadian Securities Regulators that involve anumber of risks and uncertainties. There can be no assurance that suchstatements will prove to be accurate and actual results and futureevents could differ materially from those anticipated in suchstatements. Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
More information is available by contacting PierreLeveille, President & CEO at
+1-819-340-0140 or at: info@deepsouthresources.com or Paradox Public Relations at +1-514-341-0408
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