TORONTO, ONTARIO--(Marketwired - Nov. 16, 2016) -
NOT FOR DISSEMINATION IN THE UNITED STATES
Delrand Resources Limited (the "Company") (NEX:DRN.H)(TSX VENTURE:DRN.H) is pleased to announce a
non-brokered private placement of up to 100,000 common shares of the Company at a price of Cdn$0.52 per share for gross proceeds
of up to Cdn$52,000 (the "Offering").
Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of
NEX. All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from
the date of issuance and the resale rules of applicable securities legislation. The proceeds of the Offering will be used
for general working capital purposes.
The Company also announces that it has reached an agreement with certain arm's length debt holders of the Company to forgive
and settle an aggregate of Cdn$61,000 of debt through the issuance to such holders of an aggregate of 122,000 common shares of
the Company (the "Debt Settlement"). Closing of the Debt Settlement is subject to receipt of all necessary
corporate and regulatory approvals, including the approval of NEX. All securities issued in connection with the Debt
Settlement will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of
applicable securities legislation.
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
(as 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.
Forward-Looking Information: This press release contains forward-looking information. All statements, other than
statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates
will or may occur in the future (including, without limitation, statements regarding the closing of the Offering and Debt
Settlement) are forward-looking information. This forward-looking information reflects the current expectations or beliefs
of the Company based on information currently available to the Company. Forward-looking information is subject to a number
of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the
forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance
that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or
events to differ materially from current expectations include, among other things, failure to complete the proposed Offering
and/or Debt Settlement. Forward-looking information speaks only as of the date on which it is provided and, except as may be
required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information,
whether as a result of new information, future events or results or otherwise. Although the Company believes that the
assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future
performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty
therein.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Not for distribution to U.S. newswire services or for dissemination in the United States. Any failure to comply with
this restriction may constitute a violation of U.S. securities laws.