DNI announces repricing of previously announced Private Placement

DNI Metals Inc. (DNI : TSX-Ven)(DG7 : Frankfurt)

Private Placement

TORONTO, Dec. 12, 2014 /CNW/ - 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 12,000,000 common shares (the  "shares") at a price of $0.05 per share for gross proceeds of $600,000.00 (the "Private Placement"). This Private Placement is expected to close on or before December 19, 2014, subject to TSXV approval. 

Due to market conditions, this replaces the previously announced private placement dated November 17, 2014.

In order to finance the Corporation pursuant to the Private Placement, the Corporation's insiders are entitled to subscribe to any common shares offered under the Private Placement (the "Insiders' Participation"). The Insider's Participation is exempt from the formal valuation and shareholder approval requirements provided under Regulation 61-101 respecting Protection of Minority Holders in Special Transactions ("Regulation 61-101") in accordance with sections 5.5(a) and 5.7(a) of said Regulation 61-101. The exemption is based on the fact that the market value of the Insiders' Participation or the consideration paid by such insider does not exceed 25% of the market value of the Corporation. The Corporation did not file a material change report at least 21 days prior to the completion of the private placement since the Insider's Participation was not determined at that moment.

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: 7,485,702

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.