DNI Metals adds incentive to exercise warrants
2017-09-11 09:10 ET – News Release
An anonymous director reports
DNI TO GRANT A HALF WARRANT TO HOLDERS THAT EXERCISE THEIR CURRENT WARRANT
If existing holders of warrants of DNI Metals Inc. exercise their current warrant(s) and the company receives payment for the exercised warrant(s) before Sept. 22, 2017, 5 p.m. EST, the company will issue the warrant holder a half of a new warrant.
Each new full warrant entitles the bearer to purchase one common share of the company at an exercise price of 15 cents per share for a period of 12 months from the exercise date. Each warrant will be callable at the company’s discretion, upon the stock trading above 25 cents for more than 30 days.
The company has 16,847,082 warrants that can be exercised at this time, at a price of 10 cents.
The company has 2,079,841 warrants that can be exercised after Sept. 30, 2017, and 1,539,460 warrants that can be exercised after Oct. 8, 2017, at a price of 10 cents. These warrantholders will have until Oct. 20, 2017, 5 p.m. EST, to exercise their warrant(s) to receive the new half warrant.
About DNI Metals Inc.
Certain advisers and directors of DNI have significant operational experience at historical hardrock graphite mines in Canada (for example Ontario and Quebec) and Australia. Between them, they have built three processing plants and designed two others; all, which were shut down in the 1990s due to increased Chinese competition. Keith Minty, a director, previously worked at Cal Graphite near Kearny, Ont.
Steven Goertz (MAusIMM, MAIG), who is a qualified person, approved the technical disclosure in this news release.
We seek Safe Harbor.
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