DNI CONCLUDES INTERIM FINANCING FOR ONGOING WORK ON ITS ALBERTA POLYMETALLIC BLACK SHALE PROJECTS, ATHABASCA REGION, ALBERTA
November 19 2010 - 6:00PM
PR Newswire (Canada)
TORONTO, Nov. 19 /CNW/ -- DNI METALS INC. (DNI : TSX-Ven, DG7 :
Frankfurt) TORONTO, Nov. 19 /CNW/ - DNI Metals Inc. (DNI:TSX-Ven,
DG7:FSE) announces that it has concluded the financing announced on
November 10, 2010, with gross proceeds of $42,000 from the
non-brokered private placement of flow-through and non-flow-through
shares, of which amount $28,000 was placed with an insider. The
financing consisted of: (i) the placement of 100,000 units at a
price of 14 cents per unit, 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 20 cents for a period of eighteen
months from closing; and (ii) the placement of 200,000 flow-through
shares at a price of 14 cents per share. The securities issued
under the private placements are subject to a four-month hold
period expiring on March 19, 2011. Proceeds of the financing will
be applied toward DNI's polymetallic shale properties, Athabasca
region, Alberta, toward expanded metals leaching R&D testwork
which has commenced. 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:
30,800,217 (Post-Financing) %SEDAR: 00010711E p align="justify"DNI
Metals Inc. - Shahe Sabag, President & CEO or Denis Clement,
Chairman - 416-595-1195br/ email a
href="mailto:ir@dnimetals.com"ir@dnimetals.com/a. Also visit a
cr="true" href="http://www.dnimetals.com"www.dnimetals.com/a/p
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