Deep-South to close second tranche in oversubscribed nonbrokered private placement

7th February 2023

By: Darren Parker

Creamer Media Contributing Editor Online


Font size: - +

TSX-listed Deep-South Resources will close a second tranche in an oversubscribed nonbrokered private placement, the company announced on February 7. The second tranche will be closed for $490 000.

A first tranche, totalling $210 000, has already closed and comprised 4.2-million units at $0.05 a unit.

The total offering will comprise up to 14-million units at $0.05 a unit for a total of up to $700 000.

Each unit will comprise one common share and one half of a common share purchase warrant. Each whole warrant will entitle the holder thereof to buy one common share at an exercise price of $0.10 for 36 months from the date of closing of the private placement.

Each security issued has a mandatory four-month hold period from the date of closing of the placement.

The proceeds of the private placement will be used for further exploration on the company’s projects in Zambia and for general working capital.

Deep-South holds an interest in the Luanshya West, Chililabombwe and Mpongwe copper projects in Zambia.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online


The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?