DNI METALS INC. (DNI : TSX-Ven)(DG7 : Frankfurt)
TORONTO, Aug. 25, 2015 /CNW/ - Further to DNI's press
release dated August 25, 2015, IIROC
has requested clarification of this proposed non-binding
transaction.
The transaction is subject to definitive agreement, that will
define the final terms of the acquisition. The Letter of
Intent, 'LOI', did not contemplate issuing any shares to the
vendors of the asset. Subject to final due diligence, and
adjustments the value of the transaction could range between
$3-5 million.
Due to confidentiality obligations, DNI cannot release the name
of the company that it is acquiring. Within the next 90 days,
if the 45 day Due Diligence period is satisfactorily completed and
a Definitive agreement is signed, DNI will be able to disclose the
name of the company, and all the details of the acquisition.
The LOI was agreed upon on August
20th, 2015 and final signatures were completed on
August 24, 2015. This is an
Arm-length transaction.
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: 29,586,204
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.