By Sheri Kasprzak
New York, Feb. 10 - Dumont Nickel Inc. said it has completed a private placement for C$1,308,050.
The company issued, on a non-brokered basis, 8,720,333 units at C$0.15 each.
The units consist of one share and one half-share warrant. The whole warrants are exercisable at C$0.25 each for 18 months.
Proceeds will be used for ongoing drilling on the company's Kiewit Gold Zone.
The company intends to close a second tranche of the offering soon.
Toronto-based Dumont is a mineral exploration company.
Issuer: | Dumont Nickel Inc.
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Issue: | Units of one share and one half-share warrant
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Amount: | C$1,308,050
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Units: | 8,720,333
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Price: | C$0.15
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Warrants: | One half-share warrant per unit
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Warrant expiration: | 18 months
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Warrant strike price: | C$0.25
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Placement agent: | Non-brokered
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Settlement date: | Feb. 10
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Stock symbol: | TSX Venture: DNI
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Stock price: | C$0.15 at close Feb. 10
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