Dumont concludes interim financing for its Alberta polymetallic black shale
projects

(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)
    

%SEDAR: 00010711E

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 ir@dumontnickel.com; Also visit www.dumontnickel.com

Organization Profile

DNI Metals Inc.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890