TSX-V-listed Deep-South Resources has closed the second and final tranche of its previously announced nonbrokered private placement.
In the first tranche, 4.2-million units were issued at a price of $0.05 to raise $210 000.
The second tranche resulted in the issuing of 9.7-million units at a price of $0.05 for aggregate gross proceeds of $695 000.
The proceeds of the private placement will be used for further exploration at the company’s projects in Zambia and for general working capital.
Deep-South Resources is a mineral exploration and development company.