Demesne Resources Completes Second Tranche of Financing

Demesne Resources Successfully Completes Second Tranche Financing

Demesne Resources Ltd. (CSE:DEME) (OTCQB:DEMRF) is thrilled to announce the completion of the second tranche of its non-brokered private placement financing. Following the objectives outlined earlier, this successful tranche saw the issuance of 3,495,603 common shares at a price of $0.25 each, yielding gross proceeds of approximately $873,901.

Future Tranches and Financial Strategy

The company is strategically positioning itself for a subsequent tranche of this financing, aiming for an additional $839,599 to be raised in December. This continuous support will heavily contribute to the advancement and exploration of its key projects.

Details of the Second Tranche

As part of the second tranche, Demesne Resources Ltd. has allocated finder’s fees, which include $1,050 in cash along with 4,200 Finder’s Warrants. These warrants allow for the acquisition of common shares at a price of $0.25 each, available for exercise over the next year. This move is seen as a strong incentive to engage with eligible finders helping to facilitate this financing.

Use of Proceeds and Future Ventures

Proceeds from the offering will be strategically utilized for several initiatives, including funding obligation payments in connection with the IMA Mine Project and the Star Project. Furthermore, these funds are earmarked for essential work programs, marketing endeavors, and overall working capital, fostering effective growth for the company.

Regulatory Compliance and Next Steps

It’s important to note that the completion of this offering is contingent on various conditions, including securing all necessary corporate and regulatory approvals from the Canadian Securities Exchange (CSE). Following these approvals, the company is set to move forward robustly.

The Vision of Demesne Resources Ltd.

As a company based in British Columbia, Demesne Resources Ltd. focuses on the acquisition and exploration of magnetite mineral properties. The star asset of the company is the Star Project, which spans approximately 4,615.75 hectares in the Skeena Mining Division. The company is also dedicated to advancing its IMA Mine Project, an underground tungsten mine with promising potential.

Connecting with Demesne Resources

To stay updated with Demesne Resources and its ongoing projects, interested parties can connect through various social media platforms, enhancing community engagement and transparency surrounding the company’s ventures.

Contact Information and Leadership

Under the leadership of CEO Murray Nye, the company provides transparency and accessibility to its stakeholders. The company warmly invites inquiries through its contact number or via email, ensuring that all questions regarding its undertakings can be promptly addressed.

Frequently Asked Questions

What is the purpose of the recent financing by Demesne Resources?

The financing is aimed at funding certain obligations related to the IMA Mine Project and the Star Project, along with general working capital.

How much was raised in the second tranche of the financing?

Demesne Resources raised approximately $873,901 in the second tranche.

What are Finder’s Warrants issued by Demesne Resources?

Finder’s Warrants allow eligible finders to acquire common shares of the company at a specific price within a set time frame.

What is the next step for Demesne Resources after this financing?

The company plans to pursue approvals for the offering and continue its exploration and development efforts on its key projects.

How can I learn more about Demesne Resources Ltd.?

Interested individuals can connect with Demesne Resources through various social media channels to stay informed about their latest updates and initiatives.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.