Deeprock Minerals Inc. announced a non-brokered private placement of up to 25,000,000 units at a price of CAD 0.02 per unit for total gross proceeds of up to CAD 500,000 on March 20, 2024. Each unit will be comprised of one common share and one-half of one non-transferable common share purchase warrant. Each warrant is exercisable by the holder thereof to acquire one additional common share for a period of 24 months from the date of issuance at a price of CAD 0.06 per warrant share.

The offering is expected to close on or about early April 2024. In consideration of the introduction to the company of investors in the offering, a finder's fee may be paid in cash or in securities of the company in accordance with applicable securities laws and Canadian Securities Exchange policies. The completion of the offering will be subject to receipt of and all necessary regulatory approvals, including, approval by the Canadian Securities Exchange.

The securities issued in connection with the offering will be subject to a four-month hold period under applicable Canadian securities laws commencing on the closing date of the offering. It is anticipated that insiders of the company will participate in the offering.