DNI METALS INC. (DNI : TSX-V)(DG7 : Frankfurt)
TORONTO, Jan. 27, 2015 /CNW/ - DNI Metals announces
that it has completed the second 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 second tranche of the Private Placement are subject to a
four-month-and-one-day hold period expiring on May 28, 2015, pursuant to applicable securities
legislation and the rules of TSX Venture Exchange ("TSXV"). A
Finder's Fee of $2,000 will be paid
in connection with this financing.
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
February 13, 2015 subject to TSXV
approval.
The use of Proceeds of the Private Placement will be for
corporate cash flow purposes.
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: 12,685,702 common shares
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.