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Delta Resources (TSXV:DLTA) announced a non-brokered private placement

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The company is looking to raise a minimum $1 million from the placement of a minimum of approximately 2.9 million units, priced at $0.35 per unit. The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.50 for 24 months.

Additional Information:

Company: Delta Resources
Website: http://www.DeltaResources.ca
Stock Symbol: TSXV: DLTA
Date Published: Sep 2, 2020
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Delta Resources, a Canadian mineral exploration company, has announced a non-brokered private placement.

The company is looking to raise a minimum $1 million from the placement of a minimum of approximately 2.9 million units, priced at $0.35 per unit.

The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.50 for 24 months.

The company reserves the right to modify the size or conditions of the private placement.

The shares are currently trading at $0.37

The net proceeds will primarily be used for exploration which includes drilling at its Delta-1 and Delta-2 properties in Thunder Bay, Ontario and Chibougamau, Quebec and general working capital.

Both these properties were acquired in October 2019.

The company recently announced the sale of its 100% owned Bellechasse-Timmins gold deposit in southeastern Quebec.

At Delta-1, located 50 kilometers west of Thunder Bay, a 1000 meter drilling program was completed in Nov. 2019, which tested the newly discovered Eureka Gold prospect.

Results so far show very wide intercepts of low-grade gold in a kilometer-scale alteration zone.

At Delta-2, located 35 kilometers southeast of Chibougamau, preliminary due diligence and prospecting work discovered two new gold occurrences where grab samples returned up to 55.8 grams per tonne gold and 11.45 grams per tonne silver respectively.

For more information, please visit the company’s website at www.DeltaResources.ca, contact Andre C. Tessier, President and CEO, at 613-328-1581 or by email at ATessier@DeltaResources.ca.

For Investor Relations, contact Frank Candido, Chairman and VP Corporate Communications, at 514-969-5530 or by email at FCandido@DeltaResources.ca.

I’m Cassandra Bolinski for Investmentpitch Media