Dios completed final tranche of private placement
02 May 2020 - 5:06AM
Dios Exploration Inc. (Dios) is pleased to
announce closing of a final tranche of a non-brokered private
placement in the amount of $401,000 pursuant to which 4,010,000
flow-though common shares were issued at the price of $ 0.10 each.
The net proceeds will be used for exploration
work on Dios’ wholly-owned K2 property, which is
adjacent in strike SW to Azimut Exploration inc.'s Elmer property
in the James Bay region, Quebec. Work completed by Dios on
K2 has delineated 3 km long WI target
electromagnetic conductor and ATTILA
gold-copper-silver prospect, which is southwest of
Azimut Exploration’s Patwon gold discovery, bearing similarities in
some host rocks (felsic intrusive), alterations and 3 networks of
quartz veins. K2 property is underlain by
same stratigraphy as Azimut’s Elmer property, north of Opinaca
Fault regional structure.
The President and CEO, Marie-José Girard added:
“The K2 property covers 78 sq. km of highly
prospective rocks for gold (148 claims). Drilling targets
have already been defined by our team following recent field
work. Dios has been working on K2 for the
last few years and these funds added to the March financing will
enable us to start first ever drilling in that area, for instance
on WI target 3 km long electromagnetic conductor, which is not
outcropping, but adjacent soil sampling returned high gold values,
and highly altered felsic rock boulders with 1-20% pyrite were
observed“.
Securities issued under this financing will be subject to a hold
period of four months. This private placement is carried out
pursuant to prospectus exemptions of applicable securities laws and
is subject to final acceptance by the TSX Venture Exchange.
There is a finder’s fee of $18,000 in connection with this
financing to be paid to an arm’s length party in common shares of
Dios. This press release was prepared by Marie-José Girard,
Geo M.Sc., President of DIOS, Qualified Person pursuant to National
Instrument 43-101.
Cautionary and Forward-Looking Statements
This press release includes certain statements that may be
deemed "forward-looking statements", for example the planned use of
proceeds. All statements in this discussion, other than those of
historical fact, that address future exploration programs and
events or developments that the company expects, are considered
forward-looking statements. Although the Company believes the
expectations expressed are based on reasonable assumptions, such
statements are not guaranteeing of future performance and actual
results or developments may differ materially from those
forward-looking statements.
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.
Contact information :Marie-José
Girard, President, Geo
M.Sc.mjgirard@diosexplo.comTel.: (514)
923-9123 Website:
www.diosexplo.com
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