DNI METALS INC. (DNI : TSX-Ven)(DG7 : Frankfurt)
TORONTO, Jan. 5, 2015 /CNW/ - DNI Metals announces that it
has completed the first tranche of a non-brokered Private
Placement by issuing 2,600,000 common shares at a price of
$0.05 per share, for gross proceeds
of CAD$130,000. The securities issued
in the Private Placement are subject to a four-month-and-one-day
hold period expiring on May 6, 2015,
pursuant to applicable securities legislation and the rules of TSX
Venture Exchange. Pursuant to this placement, DNI's officers and
directors subscribed for 69% of the securities in the first tranche
of the Private Placement.
The offering was carried on a private placement basis pursuant
to prospectus exemptions of applicable securities laws and is
subject to final acceptance by the TSX Venture Exchange.
Private Placement
The Corporation's Board of Directors approved the filing with
TSXV of a Price Reservation allowing it to complete a non-brokered
private placement of up to 16,000,000 common shares (the "shares")
at a price of $0.05 per share for
gross proceeds of $800,000.00 (the
"Private Placement"). The balance of the Private Placement is
expected to close on or before January 15,
2015, subject to TSXV approval.
The use of proceeds of the Private Placement will be for
business development.
Neither the TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSXV) accepts responsibility
for the adequacy or accuracy of this release.
DNI - TSX Venture
DG7 - Frankfurt
Issued: 10,085,702
We seek Safe Harbour. This announcement includes forward
looking statements. While these statements represent DNI's best
current judgment, they are subject to risks and uncertainties that
could cause actual results to vary, including risk factors listed
in DNI's Annual Information Form and its MD&As, all of which
are available from SEDAR and on its website.
SOURCE DNI Metals Inc.