DNI completes financing to continue advancing its Alberta polymetallic black shale projects through resource updates toward S...

        






DNI completes financing to continue advancing its Alberta polymetallic black shale projects through resource updates toward Scoping Study

(DNI : TSX-Ven)
(DG7 : Frankfurt)

TORONTO, Dec. 21, 2012 /CNW/ - DNI Metals Inc. (DNI:TSX-Ven, DG7:FSE) is pleased to announce that it has completed a non-brokered private placement of 1,600,000 flow-through shares at a price of 25 cents per share, with an arm's length party, for aggregate gross proceeds of $400,000. The securities issued under the private placement are subject to a four-month hold period expiring on April 22, 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, through a Scoping Study slated for early 2013. 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: 74,857,022 (post financing)

SOURCE DNI Metals Inc.

Copyright 2012 Canada NewsWire