DNI Metals arranges $500,000 private placement
DNI Metals Inc.’s board of directors has approved a private placement allowing it to complete a non-brokered private placement of up to 10 million units at a price of five cents per unit for gross proceeds of $500,000, subject to regulatory approval.
Each unit consists of one common share and one purchase warrant. Each warrant entitles the bearer to purchase one common share of the company at an exercise price of 10 cents per share for a period of 18 months from the closing date.
The use of proceeds of the private placement will be for corporate cash flow purposes.
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