VANCOUVER, BRITISH COLUMBIA–(Marketwired – April 30, 2016) –
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
DuSolo Fertilizers Inc., (TSX VEMTURE:DSF) (“DuSolo” or “the Company”) is pleased to announce that it has closed the first tranche of its non-brokered private placement (“the Private Placement”) previously announced on April 19, 2016.
“We are very encouraged by the strong support we are recieving from shareholders for this financing,” said Giles Baynham, Chief Executive Officer. “DuSolo will now be in a financial position where it can move forward with its plans to improve operations, develop new products, conduct exploration and complete a Preliminary Economic Assessment.”
The first tranche closing consists of a total of C$172,200 raised through the issuance of 4,305,000 common shares (“Common Shares”) of the Company at a price of C$0.04 per Common Share. All Common Shares issued in connection with the Private Placement will be subject to a four-month hold period expiring on August 30, 2016. The Company will pay a finders fee equivalent to 7% cash and 7% broker warrants, valid for 18 months, to purchase a Common Share at C$0.04 on certain amounts of the Private Placement, and has applied for the relevant TSXV approvals as outlined in the news release of 19th April 2016.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the 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 (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
DuSolo Fertilizers Inc. is focused on developing and producing phosphate based fertilizers for customers in the main agricultural regions of Brazil.
On behalf of DuSolo Fertilizers Inc.
Giles Baynham, Chief Executive Officer
Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of DuSolo which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and DuSolo disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
Chief Executive Officer