Deep Sea Minerals closes $4.22 million private placement

Deep Sea Minerals Corp. (CSE: SEAS) (OTCPK: DSEAF) (FSE: X45) completed a non-brokered private placement on February 6, 2026, issuing 10,550,425 common shares at $0.40 per share for gross proceeds of $4,220,170.

The subsea mineral exploration company said the offering was oversubscribed, according to information in a press release statement. The company paid finder's fees of $95,620 in cash and issued 239,050 common share purchase warrants exercisable at $0.40 for 24 months.

All securities from the offering are subject to a four-month hold period ending June 7, 2026, in accordance with Canadian Securities Exchange policies and applicable securities legislation.

Deep Sea Minerals plans to use the net proceeds to complete business objectives outlined in its January 19, 2026 listing statement, repay a loan, fund marketing activities, and for general working capital purposes.

"We are extremely pleased with the results of the initial private placement. The offering was significantly oversubscribed, validating the potential of the critical minerals sector," said James Deckelman, chief executive officer.

The Vancouver-based company focuses on deep-sea mineral exploration and development, particularly polymetallic nodule systems. Deep Sea Minerals has begun early-stage discussions with governments and regulatory bodies in the Pacific Ocean region regarding potential future exploration initiatives.

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