Published : April 07, 2011
TORONTO, April 7 /CNW/ - DNI Metals Inc. (TSXV: DNI) (FSE: DG7) is pleased to announce that it has concluded a non-brokered private placement of 1,400,000 Units with arm's length parties, for aggregate gross proceeds of $252,000, each unit consisting of one common share and one half of a common share purchase warrant, each full warrant entitling the holder to purchase an additional common share of the company at a price of 27 cents for a period of twenty-four months from closing. The securities issued under the private placement are subject to a four-month hold period expiring on August 8, 2011.
Proceeds of the financing will be applied toward ongoing work on DNI's polymetallic shale projects, Athabasca region, Alberta, and toward working capital.
DNI continues to focus its efforts on its polymetallic black shale Properties in Alberta, and on its carried interest in the diamond discovery on its Attawapiskat Property, Ontario.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
DNI - TSX Venture
DG7 - Frankfurt
Issued: 59,811,884 (post financing)