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DNI Metals (CSE: DNI) has announced a Non-Brokered Private Placement

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The company plans to raise up to $2.5 million through the offering of up to 38.5 million units at $0.065 per unit. Each unit consists of 1 share and one-half a warrant, with each full warrant exercisable at $0.10 for 18 months.

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Additional Information:

Company: DNI Metals
Website: http://www.dnimetals.com
Stock Symbol: CSE: DNI
Date Published: Apr 6, 2017
Transcript: Available

Video Transcript:

I’m Bethany Rae for Investmentpitch Media

DNI Metals has announced a non-brokered private placement.

The company plans to raise up to $2.5 million through the offering of up to 38.5 million units at $0.065 per unit. Each unit consists of 1 share and one-half a warrant, with each full warrant exercisable at $0.10 for 18 months.

Under NI 45-513, this offering is also available to current shareholders.

The shares are currently trading at $0.065.

The company has a graphite wholesale business, in which it buys and sell high quality graphite.

It also owns a commercially permitted, saprolite-hosted graphite deposit in Madagascar, located 50 kilometres from the country’s main seaport.

DNI has signed an agreement with Cougar Metals (ASX:CGM) with the intention of developing the project should the economic viability and technical feasibility be established.

The company is headed by Dan Weir, President and CEO, who has worked for more than 20 years at some of the top financial firms in Canada, in addition to managing large high tech electrical and energy management projects.

Before joining the company in November 2014, Dan was the Head of Institutional Sales at a boutique investment firm where he focused on financing mining companies, raising millions of dollars, both public and privately.

Dan Weir, President and CEO, commented, “We were attracted to Madagascar because it is known for its Large Flake, High Quality Graphite and because Madagascar has a modern and transparent Mining Code. Additionally, the area in which our Project is located contains excellent infrastructure and port facilities and the mineralisation itself is hosted within soft ‘free-dig’ material called saprolite, which greatly facilitates commercial extraction and processing. Having a commercial mining permit at this stage gives DNI a significant advantage to advance its graphite production plans in Madagascar.”

For more information, please visit the company’s website, www.dnimetals.com, contact Dan Weir, CEO, at 416-595-1195 or by email at DanWeir@dnimetals.com.

I’m Bethany Rae for Investmentpitch Media