DNI METALS INC. (DNI : TSX-Ven)(DG7 : Frankfurt)
TORONTO, May 27, 2015 /CNW/ -
The Corporation's Board of Directors has approved a Private Placement allowing it to complete a non-brokered private placement of up to 3,846,153 Units at a price of $0.13 per Unit for gross proceeds of $500,000.00 (the "Private Placement"). Subject to TSXV conditional approval.
Each unit consists of one Common share and one Warrant. Each warrant entitles the bearer to purchase one Common Share of the company at an exercise price of C$.20 per share for a period of 18 months from the closing Date.
This financing amends the previously announced financing announced in a press release dated April 6, 2015.
The use of Proceeds of the Private Placement will be for corporate purposes.
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.