DNI Completes Financing to Continue Advancing its Alberta
Polymetallic Black Shale Projects through Resource Updates toward
Scoping Study
(DNI : TSX-Ven)
(DG7 : Frankfurt)
TORONTO,
Nov. 23, 2012 /CNW/ - DNI Metals
Inc. (DNI:TSX-Ven, DG7:FSE) is pleased to announce that it has
completed a non-brokered private placement of 1,666,666
flow-through shares at a price of 30
cents per share, with arm's length parties, for aggregate
gross proceeds of $500,000. The
securities issued under the private placements are subject to a
four-month hold period expiring on March 23,
2013.
Proceeds of the above financing, together with
funds in treasury, will be applied toward concluding resource
updates in progress to continue advancing the Buckton Zone inferred
resource, at DNI's Alberta
polymetallic black shale properties, toward a Scoping Study. A
portion of the funds will also be applied toward completion of an
initial resource study relating to the Buckton South Zone which DNI
commenced drilling during the recent drilling program (announced
October 4, 2012).
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: 73,257,022 (post financing)
SOURCE DNI Metals Inc.