Deep Sea Minerals Corp. Provides Corporate Update

Core Viewpoint - Deep Sea Minerals Corp. has successfully raised gross proceeds of $4,220,170 through an over-subscribed non-brokered private placement, which will enhance its ability to advance critical mineral opportunities from the deep ocean [1]. Fund Utilization - The company has updated its planned use of funds as follows: - Accounting, general and administration fees increased from $6,000 to $250,000 - Audit and tax preparation fees increased from $14,000 to $80,000 - Business development allocated $200,000 - License and application fees set at $500,000 - Investor relations activities increased from $2,000 to $1,000,000 - Legal fees increased from $6,000 to $100,000 - Management fees increased from $42,000 to $300,000 - Repayment of the loan set at $50,000 - Transfer agent, regulatory and filing fees increased from $12,000 to $75,000 - Unallocated working capital increased from $12,480 to $759,650 - Total planned use of funds increased from $1,094,480 to $4,314,650 [2]. 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, exploration, and development of deep-sea mineral assets [4]. - The company's strategy involves identifying jurisdictions with potential polymetallic nodule systems, which are important for various industries including defense, clean energy, and advanced electronics [5]. Engagement and Regulatory Framework - The company has initiated early-stage engagement with selected governments and regulatory bodies in the Pacific Ocean region to explore future initiatives, adhering to international, national, and environmental regulations [6].