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
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)
SOURCE DNI Metals Inc.
For further information:
DNI Metals Inc. - Shahe Sabag, President & CEO or Denis Clement, Chairman - 416-595-1195 email email@example.com. Also visit www.dnimetals.com