DNI METALS INC. (DNI : TSX-V)(DG7N : Frankfurt)
TORONTO, June 30, 2015 /CNW/ - DNI Metals Inc "DNI" obtained approval from the TSX Venture Exchange, for its acquisition of mining claims in Madagascar. For complete details of the transaction, see DNI's press release June 15, 2015.
DNI announces that it has completed the second tranche of a non-brokered Private Placement by issuing 3,135,000 units at a price of $0.13 per unit, for gross proceeds of CAD$407,550.00. The securities issued in the Second tranche of the Private Placement are subject to a four-month-and-one-day hold period expiring on November 1, 2015, pursuant to applicable securities legislation and the policies of the TSX Venture Exchange ("TSXV"). A Finder's Fee of $17,706.00 cash and 84,200 common shares will be paid in connection with this financing.
The Corporation's Board of Directors has approved a Private Placement allowing it to complete a non-brokered private placement of up to 6,923,076 Units at a price of $0.13 per Unit for gross proceeds of $900,000.00 (the "Private Placement"). Subject to TSXV approval.
Each unit consists of one Common share and one Warrant. Each warrant entitles the bearer to purchase one Common Share of the corporation at an exercise price of C$.20 per share for a period of 18 months from the closing date.
The use of Proceeds of the Private Placement will be for corporate cash flow 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
Issued: 29,186,204 common shares
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.