DNI CONCLUDES ADDITIONAL FINANCING TO COMMENCE DRILLING ON ITS ALBERTA POLYMETALLIC BLACK SHALE PROJECTS, ATHABASCA REGION, ALBE
December 10 2010 - 10:38AM
PR Newswire (Canada)
TORONTO, Dec. 10 /CNW/ -- DNI Metals Inc. (DNI:TSX-Ven, DG7:FSE)
TORONTO, Dec. 10 /CNW/ - DNI Metals Inc. (DNI:TSX-Ven, DG7:FSE) is
pleased to announce that it has completed a non-brokered private
placement of flow-through shares with arm's length parties for
aggregate gross proceeds of $600,000. The securities issued under
the private placement are subject to a four-month hold period
expiring on April 10, 2011. The financing consisted of the
placement of 5 million flow-through shares at a price of 12 cents
per share. A commission was paid in connection with the placement,
consisting of an aggregate of $48,000 and issuance of 400,000
warrants, each warrant entitling the holder to purchase an
additional common share of the company at a price of 12 cents for a
period of eighteen months from closing. Shares underlying the
broker warrants are subject to a four-month hold period expiring on
April 10, 2011. Proceeds of the financing, together with funds
secured during the past few months, will be applied toward
commencing a winter drilling program to advance the two Potential
Mineral Deposits previously identified (announced November 10,
2008) through resource studies toward scoping and economic studies.
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: 35,800,217 (Post-Financing) To
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p align="left"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
href="http://www.dnimetals.com" cr="true"www.dnimetals.com/a/p
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