DNI completes financing to continue advancing its Alberta
polymetallic black shale projects through resource updates toward
Scoping Study
(DNI : TSX-Ven)
(DG7 : Frankfurt)
TORONTO,
Dec. 21, 2012 /CNW/ - DNI Metals
Inc. (DNI:TSX-Ven, DG7:FSE) is pleased to announce that it has
completed a non-brokered private placement of 1,600,000
flow-through shares at a price of 25
cents per share, with an arm's length party, for aggregate
gross proceeds of $400,000. The
securities issued under the private placement are subject to a
four-month hold period expiring on April 22,
2013.
Proceeds of the above financing, together with
funds in treasury, will be applied toward concluding resource
updates in progress to continue advancing the Buckton Zone inferred
resource, at DNI's Alberta
polymetallic black shale properties, through a Scoping Study slated
for early 2013. A portion of the funds will also be applied toward
completion of an initial resource study relating to the Buckton
South Zone which DNI commenced drilling during the recent drilling
program (announced October 4,
2012).
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: 74,857,022 (post financing)
SOURCE DNI Metals Inc.