DUMONT NICKEL INC. (DNI: TSX-Ven, DG7: Frankfurt)
TORONTO, Feb. 18 /CNW/ - Dumont Nickel Inc. (DNI:TSX-Ven, DG7:FSE) is
pleased to announce that it has completed the second, and final, tranche of a
non-brokered private placement of non-flow-through shares, with arm's length
and non-arm's length parties, for total proceeds of $22,000 pursuant to terms
announced December 30, 2008. The securities issued under the private
placements are subject to a four-month hold period expiring on June 19, 2009.
The financing consisted of placement of 2,200,000 units at a price of one
cent per unit, each unit consisting of one common share and one common share
purchase warrant entitling the holder to purchase an additional common share
of the company at a price of five cents for a period of twelve months from
closing. Non-arm's length parties participated in the placements to an
aggregate of $12,000.
Proceeds of the financing will be applied toward ongoing work on Dumont's
polymetallic shale Properties in Alberta, and toward meeting short term
operating working capital requirements.
Neither 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: 132,848,010 (135,048,010 post financing)
For further information:
For further information: Dumont Nickel Inc. - Shahe Sabag, President &
CEO; or Denis Clement, Chairman, (416-595-1195), email email@example.com.
Also visit www.dumontnickel.com