Mr. Frank Candido reports
DELTA RESOURCES ANNOUNCES PREMIUM CHARITY FLOW THROUGH FINANCING
Subject to all regulatory approvals, Delta Resources Ltd. has entered into an arrangement with Wealth Creation Preservation & Donation Inc. (WCPD) for a non-brokered structured private placement offering, consisting of the issuance of up to 20,408,164 charity flow-through units at a price of 24.5 cents per FT unit, to raise gross proceeds of up to $5,000,000.18, each FT unit consisting of one flow-through common share of the company and one-half of one non-flow-through common share purchase warrant.
Each warrant will be exercisable to acquire one additional non-flow-through common share of the company at a price of 28 cents for 30 months following the date of issuance.
The private placement is subject to approval by the TSX Venture Exchange.
The company will use an amount equal to the gross proceeds received by the company from the sale of the FT units, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures as both terms are defined in the Income Tax Act (Canada) on or before Dec. 31, 2027.
The company plans to use the proceeds from the offering to conduct further exploration at the Delta 1 property in Thunder Bay, Ont.
The offering is expected to close on or about April 30, 2026, and is subject to the receipt of all necessary regulatory and other approvals, including, but not limited to, acceptance of the TSX Venture Exchange. The offered securities will be subject to a hold period of four months and one day from the closing date of the offering in accordance with applicable securities laws.
Qualified person
Daniel Boudreau, PGeo, vice-president of exploration at Delta Resources, is the qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.
About Delta Resources Ltd.
Delta Resources is a Canadian mineral exploration and development company focused on its Delta 1 gold project in Ontario, where it has identified a large, near-surface gold system located approximately 50 kilometres west of Thunder Bay, adjacent to the Trans-Canada Highway.
The Eureka gold deposit extends over 2.5 km in strike length and to depths exceeding 300 metres, with mineralization observed to approximately 600 metres vertical depth and remaining open in all directions. The property spans 297 square kilometres and hosts multiple prospective mineralized corridors.
We seek Safe Harbor.
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