(TheNewswire)
Vancouver, B.C., Canada - TheNewswire – January 7, 2021 – Deep-South Resources Inc. (“ Deep-South ” or the " Company ") (TSXV:DSM) is pleasedto announce that due to significant demand, it has upsized thepreviously announced non-brokered private placement from C$2,000,000to C$4,500,000. Under the revised private placement, the Company willsell 30,000,000 units of the Company (the " Units ") at a price of C$0.15per Unit (the “ Offering ”).Each Unit will be comprised of one common share of the Company (each,a “ Common Share ”) and onehalf of one common share purchase warrant (a " Warrant "). Each full Warrantwill entitle the holder thereof to acquire one Common Share at a priceof C$0.22 for a period of 24 months from the closing date of theOffering. Red Cloud Securities Inc. is acting as a finder inconnection with the Offering. Other finders maybe added beforeclosing.
The net proceeds from the Offering will be used to further explore andadvance the Haib Copper project in Namibia and for general workingcapital purposes. The closing of the Offering is subject to receipt ofall necessary regulatory approvals. The Common Shares and any CommonShares issuable upon the exercise of the Warrants and applicablefinder’s warrants issued with respect to the Offering will besubject to a hold period of four months and one day from the closingdate of the Offering in accordance with applicable securities laws.
This news release does not constitute an offer of securities for salein the United States. The securities being offered have not been, norwill they be, registered under the United States Securities Act of 1933 , as amended,and such securities may not be offered or sold within the UnitedStates absent U.S. registration or an applicable exemption from U.S.registration requirements.
About Deep-South ResourcesInc.
Deep-South Resources Inc. is a mineral explorationcompany largely held by Namibian shareholders and Management with 19%and Teck Resources Ltd with 21% of Deep-South share capital.
Deep-South currently holds 100% of the Haib Copperproject in Namibia, one of the largest copper porphyry deposits inAfrica. Deep-South’s growth strategy is to focus on the explorationand development of quality assets, in significant mineralized zones,close to infrastructure, in stable countries.
This press release contains certain"forward-looking statements," as identified in Deep-South’s periodic filings with Canadian Securities Regulators thatinvolve a number of risks and uncertainties. There can be no assurancethat such statements will prove to be accurate and actual results andfuture events 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 PierreLéveillé, 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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