DLP Resources Inc. announced a non-brokered private placement of 3,703,704 units at an issue price of CAD 0.27 per unit for gross proceeds of up to CAD 1,000,000 on January 17, 2023. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share for a period of two years from the date of issue at an exercise price of CAD 0.40 per warrant share, subject to an acceleration clause in the event the trading price of the shares equals or exceeds CAD 0.50 for a period of 10 consecutive days.

The transaction will also include participation from accredited investor and friends, family and business associate and existing shareholders. The company expects to pay finder's fees in connection with the transaction to certain eligible finders in the form of a cash commission of 7.0% of the gross proceeds raised under the transaction from investors introduced to the company by the finder and the issuance of such number of non-transferable common share purchase warrants of the company equal to 7.0% of the units issued under the transaction from investors introduced to the company by the finder. The transaction is subject to all necessary regulatory approvals including acceptance from the TSX Venture Exchange.

All securities issued in connection with the transaction will be subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.