TSX-listed Deep-South Resources’ nonbrokered private placement is oversubscribed and the company will, therefore, increase the offering to $2.5-million.
The company will proceed with a second closing during the first week of October.
A first closing totalling $1.37-million was announced on September 10.
The total offering will comprise up to 25-million units of Deep-South.
The funds will be used for further exploration and development of the Haib Copper project in Namibia and for general working capital.