DLP Resources Announces Closing of $6.4 Million Brokered and Non-Brokered Private Placement
DLP Resources Announces Closing of $6.4 Million Brokered
and Non-Brokered Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
Cranbrook, British Columbia, (Newsfile Corp. – May 3 , 2024) DLP Resources Inc. (“DLP” or the
“Company”) (TSXV:DLP) (OTCQB:DLPRF) is pleased to announce that it has closed its previously
announced private placement offering (the “ Offering”), comprised of a brokered offering for gross
proceeds of $4,822,682 (the “ Brokered Offering ”) and a non-brokered offering for $ 1,601,000 in
gross proceeds (the “ Non-Brokered Offering”), for aggregate gross proceeds to the Company of
$6,423,682. The Brokered Offering was led by Paradigm Capital Inc. (the “ Lead Agent”), as the lead
agent and sole bookrunner , on behalf of a syndicate of agents, including Canaccord Genuity Corp.
(collectively, the “Agents”).
Pursuant to the Offering, the Company issued an aggregate of 16,059,205 units of the Company
(“Units”) at an issue price of $0.40 per Unit (the “Offering Price”), comprised of 12,056,705 Units
issued under the Brokered Offering and 4,002,500 Units issued under the Non -Brokered Offering.
Each Unit is comprised of one common share of the Company (a “Common Share”) and one Common
Share purchase warrant (a “Warrant”). Each Warrant shall entitle the holder thereof to purchase one
Common Share (a “Warrant Share”) at an exercise price of $ 0.54 per Warrant Share for a period of
36 months from the closing of the Offering.
The gross proceeds of the Offering will be used for exploration and development and general working
capital purposes.
In connection with the Brokered Offering, the Agents received an aggregate cash fee of $287,680.46.
In addition, the Company granted the Agents 719,201 non-transferable compensation warrants (the
“Compensation Warrants”). Each Compensation Warrant will entitle the holder thereof to purchase
one Common Share at the Offering Price for a period of 24 months following the closing of the
Offering. In addition, the Company paid an aggregate cash fee of $ 112,070 and granted 280,175
finder’s warrants (the “ Finder’s Warrants”) to certain eligible finders in connection with the Non -
Brokered Offering. Each Finder’s Warrant will entitle the holder thereof to purchase one Common
Share at the Offering Price for a period of 24 months following the closing of the Offering.
All securities issued pursuant to and in connection with the Offering will have a hold period of four
months and one day from the closing date of the Offering.
Certain related parties of the Company subscribed for an aggregate of 112,500 Units in the Brokered
Offering. The issuance of Units to these related parties is considered to be a related party transaction
within the meaning of TSX Venture Exchange (“TSXV”) Policy 5.9 and Multilateral Instrument 61-101
("MI 61 -101"). The Company has relied on the exemptions from the valuation and minority
shareholder approval requirements of MI 61-101 (and Policy 5.9) as the fair market value of the Units
issued to such person does not exceed 25% of the Company's market capitalization.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities have not been and will not be registered under the U.S.
Securities Act or any state securities laws and may not be offered or sold within the United States or
to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or
an exemption from such registration is available.
About DLP Resources Inc.
DLP Resources Inc. is a mineral exploration company operating in Peru and Southeastern British
Columbia exploring for Base Metals and Cobalt. DLP is listed on the TSX-V, trading symbol DLP and
on the OTCQB, trading symbol DLPRF. Please refer to our web site www.dlpresourcesinc.com for
additional information.
FOR FURTHER INFORMATION PLEASE CONTACT:
DLP RESOURCES INC.
Ian Gendall, President and Chief Executive Officer
Jim Stypula, Executive Chairman
Scott Davis, Chief Financial Officer
Telephone: 250-426-7808
Email: [email protected]
Email: [email protected]
Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Forward Looking Information
This news release contains “forward-looking information” within the meaning of applicable Canadian
securities legislation. “Forward-looking information” includes, but is not limited to, statements with
respect to the activities, events or developments that the Company expects or anticipates will or may
occur in the future, including the anticipated use of proceeds of the Offering . Generally, but not
always, forward-looking information and statements can be identified by the use of words such as
“plans”, “ex pects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”,
“anticipates”, or “believes” or the negative connotation thereof or variations of such words and
phrases or state that certain actions, events or results “may”, “could”, “wo uld”, “might” or “will be
taken”, “occur” or “be achieved” or the negative connation thereof.
Such forward-looking information and statements are based on numerous assumptions, including
among others, that the Company will be able to utilize the proceeds of the Offering as anticipated .
Although the assumptions made by the Company in providing forward-looking information or making
forward-looking statements are considered reasonable by management at the time, there can be no
assurance that such assumptions will prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ materially from the Company’s plans or
expectations include risks relating to the inability of the Company to use the proceeds of the Offering
as anticipated, market conditions and timeliness of regulatory approvals. Although the Company has
attempted to identify important factors that could cause actual results to differ materially from those
contained in the forward-looking information or implied by forward -looking information, there may
be other factors that cause results not to be as anticipated, estimated or intended. There can be no
assurance that forward -looking information and statements will prove to be accurate, as actual
results and future events could differ materially from those antici pated, estimated or intended.
Accordingly, readers should not place undue reliance on forward-looking statements or information.