Deeprock Minerals closes IPO and to trade on CSE

News Release

Deeprock Announces Completion of Initial Public Offering.

Langley, British Columbia – November 15, 2018. Deeprock Minerals Inc. (CSE: DEEP) (“Deeprock” or the “Corporation”) is pleased to announce that it has completed its initial public offering of 5,000,000 common shares at the price of $0.10 per common share for gross proceeds of $500,000 (the “Offering” or the “IPO”) and has been accepted for listing as a mining issuer on the Canadian Securities Exchange (the “CSE”). Chippingham Financial Group Ltd. (the “Agent”) acted as agent under the Offering. The common shares of Deeprock were approved for listing on the CSE on August 29, 2018 and are expected to commence trading on the CSE on November 16, 2018 under the trading symbol “DEEP”.

As a result of the closing of the Offering, Deeprock now has 14,509,380 common shares issued and outstanding (4,390,662 of which are subject to escrow restrictions), 350,000 common shares reserved for issuance upon the exercise of agent’s options granted upon completion of the IPO (the “Agent’s Options”), 43,890 common shares reserved for issuance upon the exercise of previously issued finders’ warrants, and 875,000 common shares reserved for issuance upon the exercise of stock options.

The Agent received a cash commission equal to 7% of the total gross proceeds of the IPO, 262,500 common shares (“Corporate Finance Fee Shares”) in lieu of a $25,000 corporate finance fee and Agent’s Options exercisable at a price of $0.10 per common share up to November 14, 2020. 112,500 of the Corporation Finance Fee Shares are subject to a four-month hold period.

About Deeprock

Deeprock is a mineral resource company engaged in the acquisition, exploration and development of mineral resource properties. Deeprock holds an option to acquire a 50% interest in the Ralleau Project located in Quebec. The Ralleau Project covers parts of Ralleau and Wilson townships on NTS map sheet 32F/01, approximately 50 kilometres east of Lebel-sur-Quevillon. The Ralleau Project Property overlies a sequence of Archean volcanic rocks belonging to the Abitibi Greenstone Belt that have the potential to host volcanogenic massive-sulphide (VMS) and lode gold deposits.

The following individuals comprise Deeprock’s board of directors and management team: Matthew Reams (CEO and Director), Geoff Balderson (CFO and Director), Darrell Woronchak (President), Craig Watters (Director) and Richard Shatto (Director).

FOR FURTHER INFORMATION, PLEASE CONTACT:
Richard Shatto
Telephone: 604.807.6334
Email: richard@pointnexus.ca
SOURCE: Deeprock Minerals Inc.

photo credit: Énergie et Ressources naturelles, Quebec

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