Delrand Resources Limited
NEX BOARD : DRN.H
TSX VENTURE : DRN.H
JSE : DRN.H

Delrand Resources Limited

December 23, 2015 20:15 ET

Delrand Announces Private Placement of Common Shares

TORONTO, ONTARIO--(Marketwired - Dec. 23, 2015) - Delrand Resources Limited (the "Company") (NEX:DRN.H)(JSE:DRN) is pleased to announce a non-brokered private placement of up to 9,000,000 common shares in the capital of the Company (the "Common Shares") at a price of $0.08 per Common Share for gross proceeds of up to $720,000 (the "Offering"). Certain directors and officers may participate in the Offering.

Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of the NEX. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The proceeds of the Offering will be used for general working capital purposes.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved of the contents of this press release.

This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.

Contact Information

  • Delrand Resources Limited
    Arnold T. Kondrat
    CEO
    (416) 366-2221or 1-800-714-7938