DLP Resources Announces Closing of Second Tranche of Private Placement of Units and Grant of Restricted Share Units
DLP Resources Announces Closing of Second Tranche of Private Placement of Units and Grant of
Restricted Share Units
Cranbrook, British Columbia, (Newsfile Corp. – December 15 , 2022 ) DLP Resources Inc. (the
“Company”) (TSXV: DLP) (OTCQB: DLPRF) is pleased to announce that it has closed the second
tranche of its previously announced non -brokered private placement (the “ Second Tranche”),
whereby the Company has completed the issuance of 975,600 units (each, a “ Unit”) at a price of
$0.25 per Unit for gross proceeds of $243,900.
Each Unit consists of one common share in the capital of the Company (a “ Share”) and one
common share purchase warrant of the Company (each whole warrant, a “Warrant”). Each Warrant
entitles the holder to purchase one common share in the capital of the Company (a “ Warrant
Share”) for a period of two (2) years from the date of issue at an exercise price of $0.40 per
Warrant Share, subject to acceleration in the event that the trading price of the Shares equals or
exceeds $0.50 for a period of 10 consecutive days.
In connection with the Second Tranche, the Company issued 58,492 finder’s warrants (the “Finder’s
Warrants”) and paid commissions of $ 14,623. Each Finder’s Warrant will entitle the holder, on
exercise thereof, to acquire one additional Share at a price of $0.25 per share for a period of two (2)
years from the date of issuance.
The securities offered in the Second Tranche are subject to a four month and a day transfer
restriction from the date of issuance expiring on April 16 , 202 3, in addition to such other
restrictions as may apply under applicable securities laws of jurisdictions outside Canada.
The Company intends to use the proceeds of the Second Tranche for funding the Company’s Peru
projects and general office and administration requirements.
Restricted Share Unit Grant
The Company also announce s that a total of 5 0,000 restricted share units (the "RSUs ") have been
granted to a consultant of the Company pursuant to the Company’s long-term incentive plan.
Each RSU entitles the holder to acquire one common share of the Company on vesting. All 5 0,000
RSUs will vest on December 15, 2023.
Not for distribution to U.S. news wire services or dissemination in the United States.
About DLP Resources Inc.
DLP Resources Inc. is a mineral exploration company operating in Southeastern British Columbia
and Peru, exploring for Base Metals and Cobalt. DLP is listed on the TSX -V, tradin g symbol DLP.
Please refer to our web site www.dlpresourcesinc.com for additional information.
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FOR FURTHER INFORMATION PLEASE CONTACT: DLP Resources Inc.
Ian Gendall, CEO & President
Jim Stypula, Executive Chairman
Robin Sudo, Chief Financial Officer & Corporate Secretary
Maxwell Reinhart, Investor Relations
Telephone: 250-426-7808
Email: [email protected]
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.
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements and information that may constitute forward- looking information
within the meaning of applicable Canadian securities laws. Forward -looking statements relate to future
events or future performance and reflect the expectations or beliefs of management of the Company
regarding future events. Generally, forward- looking statements and information can be identified by the use
of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or
statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This
information and these statements, referred to he rein as "forward- looking statements", are not historical
facts, are made as of the date of this news release and include without limitation, statements regarding
discussions of future plans, estimates and forecasts and statements as to management's expectations and
intentions with respect to, among other things, the use of the proceeds raised under the Second Tranche.
These forward- looking statements involve numerous risks and uncertainties and actual results might differ
materially from results suggested i n any forward- looking statements. These risks and uncertainti es include,
among other things, market uncertainty and that the Company will not use the proceeds of the Second
Tranche as currently anticipated.
In making the forward looking statements in this news release, the Company has applied several material
assumptions, including without limitation, that the Company will use the proceeds of the Second Tranche as
currently anticipated.
Although management of the Company has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward -looking statements or 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 such statements will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance
on such information may not be appropriate for other purposes. The Company does not undertake to update
any forward-looking statement, forward -looking information or financial out -look that are incorporated by
reference herein, except in accordance with applicable securities laws. We seek safe harbor.