- Delta Resources Limited (DLTA) has completed a non-brokered private placement raising gross proceeds of $450,000
- The company issued 4,500,000 units at a price of $0.10 per unit
- Net proceeds will be used primarily for drilling at the Delta-2 VMS property in Chibougamau, Quebec
- Delta Resources Limited is a Canadian mineral exploration company focused on the exploration of two very high-potential gold and base-metal projects in Canada
- Delta Resources Limited opened trading at $0.11
Delta Resources Limited (DLTA) has completed a non-brokered private placement raising gross proceeds of $450,000.
The company issued 4,500,000 units at a price of $0.10 per unit. Each unit consists of one common share and one common share purchase warrant exercisable for up to 24 months.
Net proceeds will be used primarily for drilling at the Delta-2 VMS property in Chibougamau, Quebec. Proceeds will also be used for drilling at the Delta-1 Gold property in Thunder Bay and general working capital.
The company also noted that it received the support of Quebec-based SIDEX and SDBJ, which each contributed $200,000 in this financing. The remaining portion of the financing is from a single private investor.
SIDEX is an initiative of the Québec government and the Fonds de solidarité FTQ with a mission to invest in companies engaged in mineral exploration in Québec in order to diversify the province’s mineral base and promote innovation and new entrepreneurs.
SDBJ is an organization created under the James Bay Region Development Act adopted by the Québec National Assembly in 1971 with a mission to promote, from a sustainable development perspective, the economic development, improvement and exploitation of natural resources other than hydroelectric resources in the Baie-James territory.
“We are extremely pleased with the recognition and support provided to Delta by SIDEX and SDBJ,” stated André Tessier, President and CEO of Delta.
“We have great drill programs underway, and this cash infusion further solidifies our 2023 Exploration budget,” he added.
Delta Resources Limited is a Canadian mineral exploration company focused on the exploration of two very high-potential gold and base-metal projects in Canada.
Delta Resources Limited opened trading at $0.11.