TORONTO, ONTARIO--(Marketwired - July 23, 2014) -
NOT FOR DISSEMINATION IN THE UNITED STATES
Delrand Resources Limited (the "Company") (TSX:DRN)(JSE:DRN) announces that it has closed a non-brokered arm's length private placement of 500,000 units of the Company at a price of Cdn$0.50 per unit for proceeds to the Company of Cdn$250,000. Each such unit is comprised of one common share of the Company and one-half of one warrant of the Company, with each full warrant entitling the holder to purchase one common share of the Company at a price of Cdn$0.75 for a period of two years. The Company intends to use the proceeds from this financing for general corporate purposes.
This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. 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 the securities laws of any state of the United States and may not be offered or sold within the United States or to or for the account or benefit of a U.S. Person or a person in the United States (as such terms are defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
Led by an experienced board and management team with a successful track record of exploration and mine development in Africa, the Company works in a systematic and responsible manner to discover, assess and develop mineral resources for the benefit of its shareholders and local stakeholders.