Non-brokered offering will sell 13 million units at C$0.10 per unit
By Devika Patel
Knoxville, Tenn., Aug. 5 – Dunnedin Ventures Inc. said on Thursday that it plans a C$1.3 million non-brokered private placement of units.
The company will sell 13 million units of one common share and one warrant at C$0.10 per unit. Each warrant will be exercisable at C$0.15 for two years. The warrant strike price is a 6.25% discount to the Aug. 3 closing share price of C$0.16.
Proceeds will be used to advance the Kahuna project and for general working capital purposes.
The diamond exploration company is based in Vancouver, B.C.
| Issuer: | Dunnedin Ventures Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.3 million
|
| Units: | 13 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 4
|
| Stock symbol: | TSX Venture: DVI
|
| Stock price: | C$0.16 at close Aug. 3
|
| Market capitalization: | C$9.95 million
|
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