DNI METALS INC. (DNI : TSX-Ven)(DG7 : Frankfurt)
TORONTO, Aug. 25, 2015 /CNW/ - Further to DNI's press release dated August 25, 2015, IIROC has requested clarification of this proposed non-binding transaction.
The transaction is subject to definitive agreement, that will define the final terms of the acquisition. The Letter of Intent, 'LOI', did not contemplate issuing any shares to the vendors of the asset. Subject to final due diligence, and adjustments the value of the transaction could range between $3-5 million.
Due to confidentiality obligations, DNI cannot release the name of the company that it is acquiring. Within the next 90 days, if the 45 day Due Diligence period is satisfactorily completed and a Definitive agreement is signed, DNI will be able to disclose the name of the company, and all the details of the acquisition.
The LOI was agreed upon on August 20th, 2015 and final signatures were completed on August 24, 2015. This is an Arm-length transaction.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release
DNI - TSX Venture
DG7 - Frankfurt
We seek Safe Harbour. This announcement includes forward looking statements. While these statements represent DNI's best current judgment, they are subject to risks and uncertainties that could cause actual results to vary, including risk factors listed in DNI's Annual Information Form and its MD&As, all of which are available from SEDAR and on its website.
SOURCE DNI Metals Inc.
For further information: DNI Metals Inc. - Dan Weir, President & CEO 416-595-1195, DanWeir@dnimetals.com, Email: email@example.com. Also visit www.dnimetals.com