DNI CONCLUDES ADDITIONAL FINANCING TO ADVANCE ITS ALBERTA POLYMETALLIC BLACK SHALE PROJECTS THROUGH A RESOURCE STUDY AND EXPANDE
08 April 2011 - 4:56AM
PR Newswire (Canada)
TORONTO, April 7 /CNW/ -- TORONTO, April 7 /CNW/ - DNI Metals Inc.
(TSXV: DNI) (FSE: DG7) is pleased to announce that it has concluded
a non-brokered private placement of 1,400,000 Units with arm's
length parties, for aggregate gross proceeds of $252,000, each unit
consisting of one common share and one half of a common share
purchase warrant, each full warrant entitling the holder to
purchase an additional common share of the company at a price of 27
cents for a period of twenty-four months from closing. The
securities issued under the private placement are subject to a
four-month hold period expiring on August 8, 2011. Proceeds of the
financing will be applied toward ongoing work on DNI's polymetallic
shale projects, Athabasca region, Alberta, and toward working
capital. DNI continues to focus its efforts on its polymetallic
black shale Properties in Alberta, and on its carried interest in
the diamond discovery on 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:
59,811,884 (post financing) To view this news release in HTML
formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/April2011/07/c2394.html
p DNI Metals Inc. - Shahe Sabag, President & CEO or Denis
Clement, Chairman - 416-595-1195 email a
href="mailto:ir@dnimetals.com"ir@dnimetals.com/a. Also visit a
href="http://www.dnimetals.com"www.dnimetals.com/a /p
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