DLP Resources Closes Private Placement, Secures Funding for Peru Projects and Exploration

DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF) has successfully closed its previously announced non-brokered private placement, raising gross proceeds of $1,362,208 through the issuance of 6,486,706 units at a price of $0.21 per unit. Each unit consists of one common share and one common share purchase warrant, with each warrant entitling the holder to purchase one additional common share at a price of $0.40 per share for a period of twenty-four (24) months from the date of issue.

The proceeds from the private placement will be used to fund the Peru projects and general office and administration requirements. This includes funding for the Aurora copper-molybdenum project, where drilling is ongoing, and the Esperanza porphyry copper project, where access has been secured for mapping and sampling in 2024. Additionally, the funds will support exploration activities at the Hungry Creek and Copper Creek copper-cobalt projects in Southeastern British Columbia.

The private placement was made available to subscribers pursuant to the accredited investor and friends, family, and business associate exemptions, as well as the existing shareholder exemption. The Company expects to pay finder's fees in connection with the Private Placement to certain eligible finders in the form of cash commissions and the issuance of finder's warrants.

The securities issued in connection with the Private Placement are 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.



DLP Resources Inc. is a mineral exploration company operating in Peru and Southeastern British Columbia, exploring for copper, zinc, and cobalt. The Company's geological strategy is a culmination of David Leo Pighin's lifetime work with Cominco and other exploration companies primarily in southeastern B.C. DLP is listed on the TSX-V, trading symbol DLP, and on the OTCQB, trading symbol DLPRF.

The closing of this private placement is a significant milestone for DLP Resources, as it secures the necessary funding to continue its exploration activities in Peru and Southeastern British Columbia. The proceeds will enable the Company to advance its projects, potentially leading to new discoveries and resource estimates. If successful, these discoveries could have a significant impact on the company's future cash flows and profitability.

In conclusion, DLP Resources' successful closing of the private placement is a testament to the Company's commitment to funding its exploration activities and advancing its projects in Peru and Southeastern British Columbia. The proceeds from the private placement will support the Company's exploration efforts, potentially leading to new discoveries and enhancing its future cash flows and profitability.