DNI METALS INC. (DNI : TSX-V)(DG7 : Frankfurt)
TORONTO, Feb. 6, 2015 /CNW/ - DNI Metals announces that it has completed the third tranche of a non-brokered Private Placement by issuing 4,250,000 common shares at a price of $0.05 per share, for gross proceeds of CAD$212,500. The securities issued in the third tranche of the Private Placement are subject to a four-month-and-one-day hold period expiring on June 7, 2015, pursuant to applicable securities legislation and the rules of TSX Venture Exchange ("TSXV"). A Finder's Fee of $12,600 will be paid in connection with this financing.
The Corporation's Board of Directors approved the filing with TSXV of a Price Reservation allowing it to complete a non-brokered private placement of up to 16,000,000 common shares (the "shares") at a price of $0.05 per share for gross proceeds of $800,000.00 (the "Private Placement"). The balance of the Private Placement is expected to close on or before February 13, 2015 subject to TSXV approval.
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: 16,935,702 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.