Closing of 2nd Tranche Private Placement of Shares
DEMESNE RESOURCES LTD. ANNOUNCES CLOSING OF A SECOND
TRANCHE OF PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT FINANCING
- NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S.
NEWSWIRE SERVICES -
Vancouver, BC, December 13, 2024 – Demesne Resources Ltd. (CSE:DEME)
(OTCQB:DEMRF) (“Demesne” or the “Company”) is pleased to announce that it has completed
the second tranche (the “ Second Tranche”) of its previously a nnounced non-brokered private
placement financing (the “ Offering”). Pursuant to the Second Tranche, the Company issued
3,495,603 common shares of the Company (“Common Shares”), at a price of $0.25 per Common
Share for gross proceeds of approximately $873,901.
The Company plans to complete a subsequent tranche of the Offering, for gross proceeds of up to
$839,599 in December 2024.
In connection with the Second Tranche, the Comp any paid finder’s fees to eligible finders
consisting of $1,050 in cash and 4,200 Common Share purchase warrants (the “ Finder’s
Warrants”). Each Finder’s Warrant is exercisable to acquire one Common Share of capital of the
Company at an exercise price of $0.25 per Common Share for a period of 12-months.
Closing of the Offering is subject to a number of conditions, including receipt of all necessary
corporate and regulatory approvals, including the Canadian Securities Exchange (the “CSE”).
The Company will use the net proceeds from the Offering to fund certain payments pursuant to an
option agreement in connection with the IMA Mine Project, certain payments pursuant to an option
agreement in connection with the Star Projec t, work program related expenses, marketing
expenses, and for general working capital purposes . All securities issued in connection with the
Second Tranche are subject to a st atutory hold period of four months plus a day from the date of
issuance in accordance with applicable securities legislation.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any
securities in the United States. The securities have not been a nd 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 so ld within the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities la ws or an exem ption fro m such
registration is available.
ABOUT DEMESNE RESOURCES LTD.
Demesne Resources Ltd. is a British Columbia based company involved in the acquisition and
exploration of magnetite mineral properties. The Company's Star Project consists of five
contiguous mineral titles covering an area of approximately 4,615.75 hect ares located in the
Skeena Mining Division, British Columbia, Canada . The Company has entered into an option
agreement pursuant to which it is entitled to earn an undivided 100% interest in the Star Project.
Demesne has also entered into an option agreem ent, pursuant to which it can acquire a 100%
interest (subject to a 2% roya lty) in and to the IMA Mine Proj ect, a past producing underground
tungsten mine situated on 22 patented claims located in East Central, Idaho, United States.
Social media links:
LinkedIn: https://www.linkedin.com/company/demesneresources/
X: https://x.com/demesneresource
Facebook: https://www.facebook.com/DemesneResources
Instagram: https://www.instagram.com/demesneresources/
YouTube: https://www.youtube.com/@demesneresources
ON BEHALF OF THE BOARD OF DIRECTORS:
Murray Nye
CEO
1055 West Georgia Street, Suite 1500
Vancouver, BC V6E 0B6
Canada
For further information, please contact:
Murray Nye, CEO
Email: [email protected]
Phone: +1 (416) 300-7398
CSE:DEME
OTCQB:DEMRF
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of
this release and has neither approved nor disapproved the contents of this press release.
This press release includes "forward-looking in formation" that is subject to a number of
assumptions, risks and uncertainties, many of wh ich are beyond the control of the Company.
Such statements represent the Company’s current views with respect to future events and are
necessarily based upon a number of assumptio ns and estimates that, while considered
reasonable by the Company, are inherently subject to significan t business, economic,
competitive, political and social risks, contin gencies and uncertainties. Many factors, both
known and unknown, could cause results, perfor mance, or achievements to be materially
different from the results, performance or achievements that are or may be expressed or implied
by such forward-looking statements. The Com pany does not intend, and does not assume any
obligation, to update these forward-looking stat ements or information to reflect changes in
assumptions or changes in circumstances or an y other events affecting such statements and
information other than as required by applicable laws, rules and regulations.