Financings

Deep Sea Minerals Corp. Provides Corporate Update

By The Northwire Desk — AI Analysis Mar 10, 2026 · 19:00 SEAS · 1.27 Deep Sea Minerals Corp.

SEAS · Price

Deep Sea Minerals Corp. raised gross proceeds of $4,220,170 in an over‑subscribed non‑brokered private placement of common shares closed on February 6, 2026.
Updated allocation of funds totals $4,314,650, significantly increasing budgets for accounting, legal, management fees, business development, licensing, investor relations and other working capital items.
The company retains broad discretion over final use of the proceeds; the updated figures replace those disclosed in its January 19, 2026 Listing Statement.

Financing Structure: Non‑brokered private placement of common shares (over‑subscribed).
Gross Proceeds Raised: $4,220,170.
Updated Use‑of‑Funds Allocation:

Category	Amount in Listing Statement	Updated Amount
Accounting, general & administration fees	$6,000	$250,000
Audit and tax preparation fees	$14,000	$80,000
Business development	–	$200,000
Business objectives (unchanged)	$1,000,000¹	$1,000,000
License and application fees	–	$500,000
Investor relations activities	$2,000	$1,000,000
Legal fees	$6,000	$100,000
Management fees	$42,000	$300,000
Repayment of the Loan (as defined)	–	$50,000
Transfer agent, regulatory & filing fees	$12,000	$75,000
Unallocated working capital	$12,480	$759,650
TOTAL	$1,094,480	$4,314,650

Notes:
Business objectives required a future financing of at least $1 M within 90 days of the Listing Statement; this requirement has been satisfied.
The company may adjust final spending based on internal and external factors; actual use could differ materially from the plan.

“The successful over‑subscribed offering provides us with the capital needed to advance our strategic objectives and engage early‑stage discussions with governments and regulators in key Pacific jurisdictions.” – James A. Deckelman, CEO

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