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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