Demesne Announces Closing of Fourth and Final Round of Private Placement Funding and Additional Business Development

Article content

– NOT FOR BROADCAST IN THE UNITED STATES OR THROUGH NEWSWIRE SERVICES –

Article content

Article content

Vancouver, BC, Jan. 17, 2025 (GLOBE NEWSWIRE) – Demesne Resources Ltd. (CSE:DEME) (OTCQB:DEMRF) (FSE:RK9) (“Demesne” or “Company”) is pleased to announce that it has completed the fourth and final stage (the “The Fourth Tranche”) of its previously announced private equity funds (the “A donation“). Pursuant to the Fourth Draft, the Company issued 1,740,884 common shares of the Company (“Common Shares”), at a price of $0.25 per common share for a total of approximately $435,221.

Article content

The Company received an aggregate amount of approximately $2,010,622 under the Plan that was oversubscribed in all categories.

In connection with the Fourth Tranche, the Company paid qualifying acquirer payments consisting of $11,200 in cash and warrants to purchase 44,800 Common Shares (the “Acquiror’s Warranties“). Each Acquisition Warrant is exercisable to acquire one Common Share of the Company’s capital at an exercise price of $0.25 per Common Share for a period of 12 months.

The Company will use the proceeds of the Offering to finance certain payments pursuant to the option agreement related to the IMA Mine Project, certain payments pursuant to the option agreement related to the Star Project, expenses related to the work program, marketing and business development. , and general working capital objectives. All securities issued in connection with the Fourth Class are subject to a statutory period of four months and a day from the date of issuance in accordance with applicable securities law.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (“US Securities Act”) or any federal securities laws and may not be offered or sold within the United States or to US Persons unless registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.

Article content

Article content

ADDITIONAL DEVELOPMENTS OF THE COMPANY

The Company also announces, in accordance with CSE policies, that it has entered into a marketing agency agreement (the “Marketing Agreement”) with an arm’s length firm, Global One Media Limited (“Global One”) to provide, among other things, social media management, marketing and distribution services to the Company. The Marketing Agreement has an initial term of six months commencing on November 1, 2024, and the Company will pay Global One a final monthly fee of US$3,700, excluding advertising expenses. Global One Media has no interest, directly or indirectly, in the Company or its securities, nor any right or intention to acquire such interest.

The company also entered into an advertising agreement (the “Advertising Agreement”) and Gold Standard Media, LLC (“GSM“) to provide, among other things, landing pages, digital marketing, email marketing, and influencer marketing. The Advertising Agreement has a six-month term beginning on January 27, 2025, and the Company will pay GSM a sum of US$400,000 and grant stock options of 850,000.Either party has the right to terminate this Advertising Agreement at any time.

Article content

ABOUT DEMESNE RESOURCES LTD.

Demesne Resources Ltd. is a British Columbia-based company involved in the discovery and exploration of magnetite mineral properties. The Company’s Star Project consists of five contiguous mineral titles covering an area of ​​approximately 4,615.75 hectares located in the Skeena Mining Division, British Columbia, Canada. The Company has entered into an option agreement pursuant to its right to acquire a 100% undivided interest in the Star Project. Demesne has also entered into an option agreement, whereby it can acquire a 100% interest (subject to a 2% royalty) and in the IMA Mine Project, the former producing an underground tungsten mine located in 22 patented claims in the Middle East. , Idaho, United States.

Social media links:
LinkedIn: https://www.linkedin.com/company/demesneresources/
X: https://x.com/demesneresource
Facebook: https://www.facebook.com/DemesneResources
Instagram: https://www.instagram.com/demesneresources/
YouTube: https://www.youtube.com/@demesneresources

Article content

ON BEHALF OF THE BOARD OF DIRECTORS:

Murray Nye
CEO

1055 West Georgia Street, Suite 1500
Vancouver, BC V6E 0B6
Canada

For more information, please contact:

Murray Nye, CEO
Email: ir@demesneresources.com
Phone: +1 (416) 300-7398
CSE: DEME
OTCQB:DEMRF
FSE: RK9

The Canadian Securities Exchange accepts no responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved the content of this press release.

This press release contains “forward-looking information” that is subject to numerous assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements in this news release include, but are not limited to, statements regarding the use of the proceeds of the Offering. Such statements represent the Company’s current views regarding future events and are based on a number of assumptions and estimates that, although the Company considers reasonable, are subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, known and unknown, could cause results, performance, or achievements to differ materially from the results, performance or achievements expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in opinion or changes in circumstances or any other events affecting such statements and information except as required by applicable laws, rules and regulations.

Article content