By Devika Patel
Knoxville, Tenn., Jan. 23 - Dia Bras Exploration Inc. said it increased a non-brokered private placement of units to C$1.85 million from C$1.7 million. The oversubscribed deal priced Jan. 14.
The company now plans to sell 30.75 million units of one common share and one warrant at C$0.06 apiece. 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 onsite 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$1.85 million
|
| Units: | 30.75 million
|
| 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
|
| Upsized: | Jan. 23
|
| Stock symbol: | TSX Venture: DIB
|
| Stock price: | C$0.06 at close Jan. 14
|
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