(DNI : TSX-Ven, DG7 : Frankfurt)
TORONTO, Nov. 12 /CNW/ - Dumont Nickel Inc. (DNI:TSX-Ven, DG7:FSE) is pleased to announce that it has completed a non-brokered private placement financing of flow-through shares announced October 1, 2009, consisting of the issuance of 11,000,000 flow-through shares, to arm's length parties, at a price of 2.5 cents per share for gross proceeds of $275,000. Securities issued are subject to a four-month hold period expiring on March 13, 2010.
Proceeds of the financing will be applied toward ongoing work on DUMONT'S polymetallic black shale Properties in Alberta, toward previously announced sampling and leaching testwork programs, to optimize metals recovery parameters. Several testwork programs are already underway, and summary of progress will be announced as the work advances.
DUMONT continues to focus its efforts on its polymetallic black shale Properties in Alberta, and its carried interest in the recent diamond discovery from its Attawapiskat Property, Ontario.
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: 174,888,010 (185,888,010 post financing)
SOURCE DNI Metals Inc.
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