Delta Resources Announces First Closing of Private Placement IN the Amount of $3,363,450.
DELTA RESOURCES ANNOUNCES FIRST CLOSING OF PRIVATE
PLACEMENT IN THE AMOUNT OF $3,363,450.
Friday, December 6, 2021 / Kingston, ON / Accesswire. Delta Resources Limited (“Delta” or “the Company”)
(TSX-V:DLTA ) (OTCBB:DTARF ) ( FRANKFURT:6G01 ) is pleased to announce that it has completed a non-
brokered private placement (as previously announced November 1 and November 29, 2021), by issuing
1,986,110 Hard Cash units of the Company at a price of $0.27 per unit, for gross proceeds of $536,249.70.
Each unit consists of one common share and one-half of a common share purchase warrant exercisable
for up to 24 months from closing at $0.40. In addit ion, the Company has also issued 1,998,389 National
Flow Through units of the Company at a price of $0. 31 per unit, for gross proceeds of $619,500.59. Each
unit consists of one National Flow Through common s hare and one half of a common share purchase
warrant exercisable for up to 24 months from closin g at $0.45. In addition, the Company has also issue d
6,493,235 Quebec Flow Through units of the Company at a price of $0.34 per unit, for gross proceeds of
$2,207,699.90. Each unit consists of one Quebec Flow Through common share and one half of a common
share purchase warrant exercisable for up to 24 months from closing at $0.34.
The net proceeds of the financing will primarily be used for exploration including drill campaigns at its Delta-
1 and Delta-2 properties in Thunder Bay, Ontario and Chibougamau, Quebec and general working capital.
Any shares issued are subject to a four-month plus one day hold period.
In connection with this private placement, the Comp any has paid cash commissions in the aggregate
amount of $213,016.03. As additional consideration, the Company also issued an aggregate of 626,613
non-transferable compensation warrants (the “ Compensation Warrants ”). 570,613 Compensation
Warrant are exercisable to acquire one common share of the Company at an exercise price of $0.45 at any
time in whole or in part for a period of 24 months following the closing of the Offering. Another 56,0 00
Compensation Warrant are exercisable to acquire one common share of the Company at an exercise price
of $0.40 at any time in whole or in part for a period of 24 months following the closing of the Offering.
The Company is pleased to have received significant support from four Quebec-based institutional funds
as follows:
SIDEX L.P. (“SIDEX”) : SIDEX is an initiative of the Québec government and the Fonds de
solidarité FTQ. Its mission is to invest in compani es engaged in mineral exploration in Québec in
order to diversify the province’s mineral base, promote innovation and new entrepreneurs.
The Société de Dévelopment de la Baie-James (“SDBJ” ) : SDBJ is an organization created
under the James Bay Region Development Act adopted by Québec National Assembly in 1971.
The SDBJ has been in existence for over 45 years wi th a mission to promote, from a sustainable
development perspective, the economic development, improvement and exploitation of natural
resources other than hydroelectric resources in the Baie-James territory. The SDBJ can also foster,
support and participation in the implementation of projects having these
objectives. http://www.sdbj.gouv.qc.ca
Insiders of the Company subscribed for a total amount of $20,250 or 75,000 Hard Cash units and $12,400
or 40,000 National Flow Through units. Participati on by these insiders constitutes a related party
transaction as defined under Multilateral Instrumen t 61-101 – Protection of Minority Security Holders in
Special Transactions (“ MI 61-101 ”). The issuance of securities to the related parti es is exempt from the
formal valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(b) of MI 61-101 and
exempt from the minority shareholder approval requi rements of Section 5.6 of MI 61-101 pursuant to
Subsection 5.7(b) of MI 61-101. The Company did not file a material change report 21 days prior to the
closing of the Offering as the details of the parti cipation of these insiders of the Company had not b een
confirmed at that time.
This news release does not constitute an offer to s ell or a solicitation of an offer to buy nor shall there be any
sale of any of the securities in any jurisdiction i n which such offer, solicitation or sale would be u nlawful. The
securities have not been and will not be registered under the United States Securities Act of 1933, as amended
(the “U.S. Securities Act”) or the securities laws of any state of the United States and may not be of fered or
sold within the United States or to, or for the acc ount or the benefit of, U.S. persons (as defined in Regulation
S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities
laws or pursuant to an exemption from such registration requirements.
About Delta Resources Limited
Delta Resources Limited is a Canadian mineral explo ration company focused on growing shareholder value
through the exploration of two very high-potential gold and base-metal projects in Canada.
• DELTA-1, 45 km 2 located 50km west of Thunder Bay, Ontario where an extremely high gold-in-till anomaly
and kilometre-scale gold-bearing alteration halo point to a never-tested regional structure.
• DELTA-2 GOLD and DELTA-2 VMS, 170 km 2 in the prolific Chibougamau District of Quebec, wi th a
potential for hydrothermal-gold and gold-rich VMS deposits.
Delta has 48M shares outstanding (including this fi nancing), is fully funded for its 2022 exploration program
and, is set to receive an additional $400,000 on March 1st, 2022, through the sale of its Bellechasse-Timmins
gold project in SE Quebec.
ON BEHALF OF THE BOARD OF DELTA RESOURCES LIMITED.
Andre C. Tessier
President, CEO and Director
www.deltaresources.ca
We seek safe harbor. Neither TSX Venture Exchange n or its Regulation Services Provider (as that term i s defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture
Exchange has not approved nor disapproved of the information contained herein.
For Further Information:
Delta Resources Limited
Frank Candido, Chairman, VP Corporate Communications
Tel : 514-969-5530
or
Andre Tessier, CEO and President
Tel: 613-328-1581
Cautionary Note Regarding Forward Looking Information
Some statements contained in this news release are "forward looking information" within the meaning of Canadian securities
laws. Generally, forward-looking information can be identified by the use of forward-looking terminolo gy such as "plans",
"expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of
such words and phrases (including negative or grammatical variations) or statements that certain actions, events or results
"may", "could", "would", "might" or "will be taken" , "occur" or "be achieved" or the negative connotat ion thereof. Investors
are cautioned that forward-looking information is inherently uncertain and involves risks, assumptions and uncertainties that
could cause actual facts to differ materially. Ther e can be no assurance that future developments affe cting the Company
will be those anticipated by management. The forwar d-looking information contained in this press relea se constitutes
management's current estimates, as of the date of t his press release, with respect to the matters cove red thereby. We
expect that these estimates will change as new info rmation is received. While we may elect to update t hese estimates at
any time, we do not undertake to update any estimate at any particular time or in response to any particular event.