Delrand Resources Ltd. Closes Private Placement Financing
17.05.2013 | Marketwire
TORONTO, May 16, 2013 - Delrand Resources Limited ("Delrand" or the "Company") (TSX:DRN) (JSE:DRN) announces that, further to its April 9, 2013 press release, it has closed a non-brokered private placement of 6,000,000 common shares of the Company at a price of Cdn$0.045 per share for proceeds to the Company of Cdn$270,000. No warrants were issued under this financing (the "Financing"). The Company intends to use the proceeds from the Financing for general corporate purposes. Directors and officers of the Company purchased 2,620,000 of the common shares issued under the Financing.This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States and may not be offered or sold within the United States (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
Delrand is an African-focused mineral explorer with diamond exploration projects in the Democratic Republic of the Congo. The Company also has an iron ore exploration project and other mineral projects are under consideration. Led by an experienced board and management team with a successful track record of exploration and mine development in Africa, the Company works in a systematic and responsible manner to discover, assess and develop mineral resources for the benefit of its shareholders and local stakeholders.
For further information, please visit our website, www.delrand.com.
NOT FOR DISSEMINATION IN THE UNITED STATES
Contact
In Toronto: Delrand Resources Limited
Tom Sipos
(416) 366-2221 or 1-800-714-7938
In Johannesburg and the DRC: Delrand Resources Limited
Brian P. Scallan, Vice President, Finance
+27 82 902 6273 or +243 991772978
www.delrand.com