12:21:24 EDT Mon 29 Apr 2024
Enter Symbol
or Name
USA
CA



Delta Cleantech Inc
Symbol DELT
Shares Issued 85,073,100
Close 2024-03-13 C$ 0.025
Market Cap C$ 2,126,828
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Delta Cleantech closes $388K first tranche of placement

2024-03-13 17:56 ET - News Release

Mr. Jeff Allison reports

DELTA ANNOUNCES CLOSING OF TRANCHE 1 OF PRIVATE PLACEMENT

Upon receipt of the majority of the minority shareholders approval obtained on March 12, 2024, Delta Cleantech Inc. has closed tranche 1 of the private placement, previously announced on Feb. 7, 2024, and March 8, 2024, by issuing 19.4 million units at a price of two cents per unit for the gross proceeds of $388,000. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share of Delta at an exercise price of five cents per warrant share, for a period of five years. The common shares issued and the warrant shares are subject to a hold period under applicable securities law until July 14, 2024.

The issuer intends to close the second tranche of the private placement on March 15, 2024, by the issuance of an additional 10.6 million units for the gross proceeds of $212,000.

Prior to the closing of private placement tranche 1 and private placement tranche 2, Delta had 85,073,100 common shares and 29,886,500 warrants issued and outstanding and after closing of the private placement, Delta will have 115,073,100 common shares and 59,886,500 warrants issued and outstanding. The proceeds will be utilized for working capital. No bonuses, finders' fees, compensation or commissions are payable under the private placement.

About Delta Cleantech Inc.

Delta Cleantech is a 19-year environmental-,social- and governance-driven, recognized global technology leader specializing in developing carbon mitigation products for energy transition industry. Delta continues to provide solutions to clients all over the world in capturing and sequestering CO2 (carbon dioxide), and reclaiming industrial liquids and solvents utilized in CO2 capture, as well as originating, validating, digitizing and streaming carbon credits through its subsidiary, Carbon RX.

We seek Safe Harbor.

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