Duluth Metals intends to price C$5 million private placement of stock

Offering funds development of Twin Metals Project, corporate purposes

By Devika Patel

Knoxville, Tenn., Oct. 8 – Duluth Metals Ltd. said it plans to conduct a C$5 million private placement of stock. Industrial Alliance Securities Inc. is the agent.

The company will sell common shares on a best-efforts basis.

Antofagasta Investment Co. Ltd. and Wallbridge Mining Co. Ltd. may participate in the offering.

Settlement is expected Oct. 21.

Proceeds will be used for development of the Twin Metals Project and general corporate purposes.

Duluth is a copper, nickel and platinum exploration company based in Toronto.

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