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Deer Horn Capital settles $100,000 in debt

The company issued 3mln units, consisting of 2mln shares and 1mln warrants, raising a total of $100,000.
Deer Horn Capital settles $100,000 in debt
Deer Horn has settled $100,000 of debt

Deer Horn Capital Inc (CVE:DHM, CNSX:DHC) has raised $100,000 via a previously announced private placing, it told investors.

The company issued 3mln units, consisting of 2mln shares and 1mln  warrants, raising a total of $100,000.

The firm also said it had issued 2mln units to settle a total of $100,000 in debt owed to suppliers, consultants and creditors.

Warrants issued under these transactions are exercisable into shares at 10 cents each for two years.

The company has a 50% interest in the Deer Horn tellurium and silver property. Tellurium is used in copper and steel to improve their malleability.

The Deer Horn property in north-central British Columbia showed positive economics in a preliminary economic analysis (PEA) and, according to the firm, hosts Canada’s only NI 43-101 tellurium resource.

In May, the group said it had turned back to focusing on the mineral property and stopped operations at its Bodhi Natural Market store in Maple Ridge.

After 11 months of operation, the store has failed to reach anticipated sales levels," it told investors.

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