DNI Metals Inc. Concludes Its Strategic Financing to Advance Its Alberta Polymetallic Black Shale Projects Through a Resource Study and Expanded Testwork
28.03.2011 | CNW
TORONTO, March 28 /CNW/ - DNI Metals Inc. (TSXV: DNI) (DG7: FSE) is pleased to announce that it has concluded the second, and final, closing of the financing announced on March 11, 2011, by completing a non-brokered private placement of 416,667 flow-through shares with arm's length parties, for aggregate gross proceeds of $50,000. The foregoing placement relates to subscriptions in transit which were delayed and were, accordingly, not captured in the first closing. The securities issued under the private placements are subject to a four-month hold period expiring on July 29, 2011.Proceeds of the financing will be applied toward ongoing work on DNI's polymetallic shale projects, Athabasca region, Alberta. These projects are now fully funded.
DNI continues to focus its efforts on its polymetallic black shale Properties in Alberta, and on its carried interest in the diamond discovery on its Attawapiskat Property, Ontario.
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: 58,351,884 (post financing)
For further information:
DNI Metals Inc. - Shahe Sabag, President & CEO or Denis Clement, Chairman - 416-595-1195 email ir@dnimetals.com. Also visit www.dnimetals.com