November 27, 2020

DEEP Earth Energy Production Corp. (the “Corporation” or “DEEP”) is pleased to announce a private placement for subscription by qualified investors of up to a maximum of CAD$5,000,000 consisting of a concurrent unit offering and flow-through share offering.

DEEP is offering 4,000,000 units (each a “Unit”) at CAD$0.75 per Unit, for gross proceeds to the Corporation of CAD$3,000,000. Each Unit is comprised of one (1) Class “A” common voting share of the Corporation (each a “Common Share”) having an issuance price of CAD$0.75, and one (1) warrant (each a “Warrant”) issued for no additional consideration. Each Warrant entitles the holder thereof to purchase an additional Common Share on payment to the Corporation of the exercise price of CAD$0.75 per Warrant at any time prior to that date which is 36 months from the date the Warrant is issued.

DEEP is concurrently offering 2,000,000 Common Shares issued on a flow-through basis under the Income Tax Act (Canada) (each a “Flow-Through Share”) for gross proceeds to the Corporation of CAD$2,000,000. Each Flow-Through Share will have an issuance price of CAD$1.00 per share.

The proceeds from the sale of these offerings will be used by the Corporation towards the development of its Saskatchewan geothermal power project.

This private placement will be offered on a first come, first served basis to its current existing shareholders until December 2nd/2020, followed by new subscribers if not fully allocated.

DEEP is developing geothermal resources to meet increasing energy needs with sustainable, clean and renewable energy.

For further information on the private placement offering, please contact Kirsten Marcia or Wade MacBain.


Kirsten Y. Marcia, President & CEO            Wade MacBain, Board Chair
(306) 261-6979                                             (306) 261-6979                        

Future Oriented Financial Information Disclaimer:
Some of the statements in this shareholder update may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. DEEP, including its directors or officers, do not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such statements. Therefore, in no case whatsoever will Deep or its directors or officers be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this update or for any related damages. You should consult your professional advisors before deciding to make an investment decision in DEEP.