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. – November 3, 2022) – DLP Resources Inc. (“DLP” or t he
“Company”) (TSXV: DLP) (OTCQB:DLPRF) announces that, further to its news release dated October 4,
2022, the Company intends to make its previously announced non -brokered private placement of up to
8,000,000 units of the Company (the “ Units”) at a price of $ 0.25 per Unit (the “ Private Placement ”)
available to existing shareholders of the Company who, as of the close of business on November 2,
2022, 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 I nstrument 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 jurisd iction. 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 U nit will consist of one common share ( a “ Share”) of the Company and one common share
purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one additional S hare
of the Company at a price of $0.40 per Share for a period of twenty -four (24) months from the date of
closing. The W arrants 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 co nnection 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 proceeds of the Private Placement will be used for funding the Peru projects and general office
and administration requirements.
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 the closing date under applicable Canadian securities laws, in addition to
such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.
Not for distribution to U.S. news wire services or dissemination in the United States.
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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, 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, CEO & President
Jim Stypula, Executive Chairman
Robin Sudo, Chief Financial Officer and 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.
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” o r “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 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 to management's expectations and intentions with respect to, among ot her 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 approv als 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
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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 do es 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.