Dusolo Completes $2.5M Financing
Suite 1100 – 1111 Melvile Street, Vancouver, B.C., Canada, V6E 3V6
Tel. 604-484 7112 Fax. 604-669-2322 | www.DuSolo.com
DUSOLO COMPLETES $2.5M FINANCING
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
June 26, 2017 - VANCOUVER, BRITISH COLUMBIA: DuSolo Fertilizers Inc., (TSX-
V:DSF) (“DuSolo” or “the Company”) is pleased to announce that it has closed the
second and final tranche of its non-brokered private placement (“the Private Placement”)
announced on May 16, 2017, bringing the gross proceeds of the Private Placement to
$2.57 million.
“We are very encouraged by the strong support we received from our existing
shareholders for this financing, for which we thank them” said Giles Baynham, Chief
Executive Officer. “DuSolo continues to increase its sales of phosphate Direct Application
Natural Fertilizer (“DANF”), and devlop new products for its customers”.
Use of Proceeds
The Company will utilize the funds to continue development of new products including
granulation of its exisiting DANF, exploration of the near-mine high grade mineralization at
the Santiago DANF Project and its medium grade Amaury concession, and working capital
and general corporate costs.
Second Tranche
The second tranche of the Private Placement resulted in the Company rec eiving net
proceeds of C$1,934,999.97 through the issuance of 64,499,999 common shares
(“Common Shares”) of the Company at a price of C$0. 03 per Common Share (the
“Offering Price”).
The Company’s two largest shareholders contributed to the Private Placement as follows:
Tembo Capital $1,100,000 and M&G Investment Management $755,000. Tembo Capital
now owns 38.83% of the Company’s outstanding Common Shares, and M&G Investment
Management now owns 18.76% of the outstanding Common Shares, having increased its
stake overall in the Company from 14.98% prior to the Private Placement.
In connection with the Private Placement, the Company paid a finder a finder’s fee of
$37,863.90 in cash and 1,262,130 warrants, each warrant entitling the finder to acquire
one Common Share exercisable at the Offering Price for 18 months following closing. No
finder’s fees were payable in the second tranche.
All securities issued in the second tranche closing are subject to a four-month hold period
expiring on October 27, 2017.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any
Suite 1100 – 1111 Melvile Street, Vancouver, B.C., Canada, V6E 3V6
Tel. 604-484 7112 Fax. 604-669-2322 | www.DuSolo.com
of the securities in the United States. 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 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.
On behalf of DuSolo Fertilizers Inc.
Giles Baynham, Chief Executive Officer
For more information contact:
Email: [email protected]
(604) 484-7112
Forward-looking statements
Certain information contained in this press release constitutes “forward -looking
information”, within the meaning of Canadian legislation. Generally, these forward-looking
statements can be identified by the use of forward-looking terminology such as “plans”,
“expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”,
“forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of
such words and phrases or statements that cer tain actions, events or results “may”,
“could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”.
Forward looking statements contained in this press release may include statements
regarding the future operating or financial performance of DuSolo which involve known
and unknown risks and uncertainties which may not prove to be accurate. Actual results
and outcomes may differ materially from what is expressed or forecasted in these forward-
looking statements. Such statements are qualified in their entirety by the inherent risks and
uncertainties surrounding future expectations. Among those factors which could cause
actual results to differ materially are the following: market conditions and other risk factors
listed from time to time in our reports filed with Canadian securities regulators on SEDAR
at www.sedar.com. The forward-looking statements included in this press release are
made as of the date of this press release and DuSolo disclaims any intention or obligation
to update or revise any forward -looking statements, whether as a result of new
information, future events or otherwise, except as expressly required by applicable
securities legislation.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that
term is defined in the policies of the TSX Venture Exchange Inc.) accepts
responsibility for the adequacy or accuracy of this press release.