By Devika Patel
Knoxville, Tenn., Jan. 14 - Dia Bras Exploration Inc. said it will raise C$1.7 million in a non-brokered private placement of units.
The company will sell 28,333,333 units of one common share and one warrant at C$0.06 apiece on a best-efforts basis. The warrants are exercisable at C$0.15 for 18 months.
Proceeds will be used to initiate the engineering study for the construction of an on-site mill at the company's Bolivar Mine and for general corporate and working capital purposes.
Based in Montreal, Dia Bras is a precious and base metals exploration company.
| Issuer: | Dia Bras Exploration Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.7 million
|
| Units: | 28,333,333
|
| Price: | C$0.06
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 14
|
| Stock symbol: | TSX Venture: DIB
|
| Stock price: | C$0.06 at close Jan. 14
|
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