Deep Sea closes $4.22-million private placement

Executive Summary

• Deep Sea Minerals Corp. has closed an oversubscribed, non-brokered private placement of common shares, raising gross proceeds of $4,220,170.
• The company issued 10,550,425 shares at a price of $0.40 per share.
• Proceeds are designated for business objectives, repayment of loans, marketing, and general working capital.

Key Details

• Transaction Structure: Non-brokered private placement of common shares.
• Shares Issued: 10,550,425 common shares.
• Price Per Share: $0.40 CAD.
• Gross Proceeds: $4,220,170.
• Finder’s Fees: Paid to eligible finders consisting of:
  • $95,620 in cash.
  • 239,050 common share purchase warrants.
• Warrant Terms: Each finder's warrant is exercisable to acquire one share at an exercise price of $0.40 for a period of 24 months from the date of issuance.
• Statutory Hold Period: All securities issued are subject to a hold period of four months plus a day, ending on June 7, 2026.
• Use of Proceeds: Completion of business objectives (as per CSE Form 2A Listing Statement dated Jan. 19, 2026), repayment of loans, marketing, and general working capital.
• Company Status: The offering was significantly oversubscribed.

Notable Quotes

• "We are extremely pleased with the results of the initial private placement. The offering was significantly oversubscribed, validating the potential of the critical minerals sector and how we have positioned Deep Sea Minerals Corp. in this space. The momentum we are seeing in the sector is unprecedented. The private placement outcome is clear testament to that," said James Deckelman, chief executive officer of Deep Sea.