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FINWIRES

Delta Resources Upsizes Premium Charity Flow Through Financing to $6 Million

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Delta Resources (DLTA.V) upsized its previously announced premium charity flow through financing to $6 million from $5 million, it said Thursday.

The company entered into an arrangement with Wealth Creation Preservation & Donation (WCPD) for a non-brokered structured private placement offering, consisting of the issuance of up to 26-million charity flow-through units at $0.245 apiece. Each FT unit consists of one flow-through common share and one-half of one non-flow-through common share purchase warrant.

Each warrant will be exercisable to buy a share for $0.28 for 30 months following the date of issuance. Proceeds from the sale of the FT units, will be used to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" on or before Dec. 31, 2027.

The company plans to use the proceeds from the offering to conduct further exploration at the Delta 1 property in Thunder Bay, Ontario. The offering is expected to close on or about April 30.

Shares of the company were last seen unchanged at $0.205 on the TSX Venture Exchange.

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