(DNI : TSX-Ven)
(DG7 : Frankfurt)
TORONTO, Sept. 18, 2012 /CNW/ - DNI Metals Inc. (DNI:TSX-Ven, DG7:FSE) is pleased to announce that it has completed a non-brokered private placement of flow-through shares, with arm's length parties, for aggregate gross proceeds of $525,600. The securities issued under the private placements are subject to a four-month hold period expiring on January 19, 2013.
The financing consisted of the placement of 1,752,000 flow-through shares at a price of 30 cents per share. A finder fee was paid in connection with the placement, consisting of an aggregate of $36,792 and issuance of 122,640 warrants, each warrant entitling the holder to purchase an additional common share of the company at a price of 30 cents for a period of twelve months from closing. Shares underlying the broker warrants are subject to a four-month hold period expiring on January 19, 2013.
Proceeds of the above financing, together with funds in treasury, will be applied toward the drilling programs in progress at DNI's polymetallic shale properties, Alberta.
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: 71,298,689 (post financing)
SOURCE: DNI Metals Inc.
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