TSX-V-listed Deep-South Resources has closed the first tranche, for an amount of $265 447, of a recently announced nonbrokered private placement.
The private placement is nearly fully subscribed, and the second tranche will close on or about September 20.
The proceeds of the private placement will be used for further exploration at the company’s projects in Namibia and Zambia and for general working capital.
The company holds the Haib copper project in Namibia, as well as an interest in three exploration licences in Zambia.