Deep Sea Minerals Corp. Announces Closing of Oversubscribed $4.22 Million Private Placement

Core Viewpoint - Deep Sea Minerals Corp. has successfully closed a non-brokered private placement, raising $4,220,170 through the issuance of 10,550,425 common shares at $0.40 per share, indicating strong investor interest in the critical minerals sector [1][4]. Group 1: Offering Details - The private placement involved the issuance of 10,550,425 Shares at a price of $0.40 per Share, resulting in gross proceeds of $4,220,170 [1]. - The Company paid finder's fees totaling $95,620 in cash and issued 239,050 common share purchase warrants, each exercisable at $0.40 for 24 months [2]. - All securities from the Offering are subject to a four-month hold period, ending on June 7, 2026 [3]. Group 2: Use of Proceeds - The net proceeds from the Offering will be utilized for specific business objectives, repayment of a loan, marketing, and general working capital [3]. Group 3: Company Overview - Deep Sea Minerals Corp. focuses on subsea mineral exploration and development, aiming to support the future supply of critical minerals through the acquisition and development of deep-sea mineral assets [5]. - The Company's strategy includes identifying jurisdictions with potential polymetallic nodule systems, which are important for various industries including defense, clean energy, and advanced electronics [6]. Group 4: Industry Engagement - The Company has begun early-stage engagement with selected governments and regulatory bodies in the Pacific Ocean region to explore future initiatives, adhering to international and environmental frameworks [7].