DLP Resources Announces Non-Brokered Private Placement to be Made Available to Existing Shareholders
DLP Resources Announces Non-Brokered Private Placement to be Made
Available to Existing Shareholders
Cranbrook, British Columbia, (Newsfile Corp. – May 19, 2021) – DLP Resources Inc. (“DLP” or the
“Company”) (TSXV: DLP) announces that, further to its news release dated May 18, 2021, the Company
intends to make its previously announced non-brokered private placement of up to 6,666,667 units of the
Company (the “ Units”) at a price of $0.30 per Unit (the “ Private Placement ”) availab le to existing
shareholders of the Company who, as of the close of business on May 18, 2021, held common shares of
the Company (and who continue to hold such common shares as of the closing date), pursuant to the
prospectus exemption set out in BC Instrume nt 45-534 – Exemption From Prospectus Requirement for
Certain Trades to Existing Security Holders (the “ Existing Shareholder Exemption ”). The Existing
Shareholder Exemption limits a shareholder to a maximum investment of CAD$15,000 in a 12 -month
period unless the shareholder has obtained advice regarding the suitability of the investment and, if the
shareholder is resident in a jurisdiction of Canada, that advice has been obtained from a person that is
registered as an investment dealer in the jur isdiction. If the Company receives subscriptions from
investors relying on the Existing Shareholder Exemption exceeding the maximum amount of the Private
Placement, the Company intends to adjust the subscriptions received on a pro-rata basis.
Each Unit will consist of one common share (a “Share”) of the Company and one common share purchase
warrant ( a “Warrant”). Each W arrant will entitle the hol der to purchase one additional S hare of the
Company at a price of $0.40 per Share for a period of twelve (12) mo nths from the date of closing. The
Warrants are subject to an acceleration clause in the event the trading price of the Shares equals or
exceeds $0.50 per Share for a period of ten (10) consecutive days.
The Company intends to pay finder's fees in connec tion with the Private Placement to certain eligible
finders in the form of : (i) a cash commission of 7.0% of the gross proceeds raised under the Private
Placement from investors introduced to the Company by the finder; and (ii) the issuance of such number
of non-transferable common share purchase warrants of the Company (the “ Finder’s Warrants”) equal
to 7.0% of the Units issued under the Private Placement from investors introduced to the Company by the
finder.
The Company intends to use the proceeds from the Private Placement to fund cash payments and
exploration costs related to its planned acquisition of the option to acquire a 100% interest in the Aurora
porphyry copper-molybdenum deposit pursuant to a letter of intent with SMRL Parobamba II. For further
information, see the Company’s news release dated May 18, 2021.
The Company intends to spend the funds available to it as stated in this news release. There may be
circumstances, however, where, for sound business reasons, a reallocation of funds may be necessary.
The Private Placement is subject to all necessary regulatory approvals including acceptance from the TSX
Venture Exchange. All securities issued in connection with the Private Placement will be subject to a four-
month hold period from th e closing date under applicable Canadian securities laws, in addition to such
other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.
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FOR FURTHER INFORMATION PLEASE CONTACT: DLP Resources Inc.
Ian Gendall, President
Jim Stypula, Chief Executive Officer
Robin Sudo, Chief Financial Officer and Corporate Secretary
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 release includes certain statements and information that may constitute forward -looking information within
the meaning of applicable Ca nadian 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 stat ements, referred to herein
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 t o
management's expectations and intentions with respect to, among other things: the anticipated proceeds to be
raised under the Private Placement; the use of any proceeds raised under the Private Placement; and finder’s fees
to be paid in connection with the Private Placement.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ
materially from results suggested in any forward -looking statements. These risks and uncertainties include, among
other things: delays in obtaining or failure to obtain required regulatory approvals for the Private Placement; market
uncertainty; and the inability of the Company to raise the anticipated proceeds under the Private Placement.
In making the forward looking statements in this news release, the Company has applied several material
assumptions, including without limitation, that: the Company will obtain the required regulatory approvals for the
Private Placement; the Company will be able to raise the anticipated proceeds under the Private Placement; and the
Company will use the proceeds of the Private Placement 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 forwardlooking 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 forwardlooking information. Readers are cautioned that reliance on such inf ormation 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.