(DNI : TSX-Ven)
(DG7 : Frankfurt)
TORONTO, Dec. 21, 2012 /CNW/ - DNI Metals Inc. (DNI:TSX-Ven, DG7:FSE) is pleased to announce that it has completed a non-brokered private
placement of 1,600,000 flow-through shares at a price of 25 cents per
share, with an arm's length party, for aggregate gross proceeds of
$400,000. The securities issued under the private placement are subject
to a four-month hold period expiring on April 22, 2013.
Proceeds of the above financing, together with funds in treasury, will
be applied toward concluding resource updates in progress to continue
advancing the Buckton Zone inferred resource, at DNI's Alberta
polymetallic black shale properties, through a Scoping Study slated for
early 2013. A portion of the funds will also be applied toward
completion of an initial resource study relating to the Buckton South
Zone which DNI commenced drilling during the recent drilling program
(announced October 4, 2012).
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: 74,857,022 (post financing)
SOURCE: DNI Metals Inc.
For further information:
DNI Metals Inc. - Shahe Sabag, President & CEO or Denis Clement, Chairman - 416-595-1195
email firstname.lastname@example.org. Also visit www.dnimetals.com