VANCOUVER, British Columbia, Dec. 24, 2024 (GLOBE NEWSWIRE) — Demesne Resources Limited (CSE:DEME) (OTCQB:DEMRF) (demesne or a company(She is pleased to announce that she has completed the third tranche) Third slide) from previously announced non-brokered private placement financing ( an offer). Under the third tranche, the Company issued 1,660,000 ordinary shares of the Company (Common stock), at $0.25 per common share for gross proceeds of approximately $415,000.
The company plans to complete a subsequent tranche of the offering, for gross proceeds of up to $424,599 in January 2025.
In connection with the Third Tranche, the Company paid a finder's fee to qualified finders consisting of $17,150 in cash and 68,600 common stock purchase warrants (Third Tranche). Finder commands). Each Finder Warrant is exercisable to acquire one common share of capital stock of the Company at an exercise price of $0.25 per common share for a period of 12 months.
The closing of the Offer is subject to a number of conditions, including the receipt of all necessary institutional and regulatory approvals, including the Canadian Securities Exchange (approval). Private search engine).
The Company will use the net proceeds of the Offering to fund certain payments pursuant to an option agreement in respect of the IMA Mine Project, certain payments pursuant to an option agreement in respect of the Star Project, work program-related expenses, marketing expenses, and for general working capital purposes. All securities issued in connection with the Third Tranche are subject to a statutory holding period of four months plus one day from the date of issue in accordance with applicable securities legislation.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the U.S. Securities Act of 1933). US securities law) or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
ABOUT DEMESNE RESOURCES LTD.
Demesne Resources Ltd. is a British Columbia-based company engaged in the acquisition and exploration of magnetite mineral properties. The Company's Star Project consists of five contiguous mineral titles covering an area of approximately 4,615.75 hectares and located in the Skeena Division, British Columbia, Canada. The Company has entered into an option agreement under which it is entitled to acquire an undivided 100% interest in the Star Project. Demesne has also entered into an option agreement, under which it can acquire a 100% interest (subject to a 2% royalty) in the IMA Mine Project, a former underground tungsten producing mine located on 22 patented claims located in East Central, Idaho, US.
Social media links:
LinkedIn: https://www.linkedin.com/company/demesneresources/
Tenth: https://x.com/demesneresource
Facebook (NASDAQ:): https://www.facebook.com/DemesneResources
Instagram: https://www.instagram.com/demesneresources/
YouTube: https://www.youtube.com/@demesneresources
On behalf of the Board of Directors:
Murray Nye
CEO
1055 West Georgia Street, Suite 1500
Vancouver, British Columbia V6E 0B6
Canada
For more information, please contact:
Murray Nye, CEO
Email: ir@demesneresources.com
Phone: +1 (416) 300-7398
CSE: Diem
otcp:dmrv
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved of the contents of this news release.
This press release contains “forward-looking information” that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the Company’s control. These statements represent the Company's current views with respect to future events and are necessarily based on a number of assumptions and estimates that, although considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and contingencies. Uncertainty. Many factors, known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by such forward-looking statements. The Company does not intend, and undertakes no obligation, to update these forward-looking statements or information to reflect changes in assumptions, changes in circumstances or any other events affecting such statements and information other than as required by applicable laws and rules. Systems.
Holly Iervella
Source: Demesne Resources Ltd.
