DNI to Grant a Half Warrant to Holders That Exercise Their Current Warrant
Toronto, Ontario--(Newsfile Corp. - September 11, 2017) - DNI Metals Inc. (CSE: DNI) (OTC Pink: DMNKF), "DNI", "The Company", is pleased to offer existing holders of warrants of the company, that if they exercise their current warrant(s) and the company receives payment for the exercised warrant(s), before September 22, 2017, 5pm EST, that the company will issue the warrant holder a half (1/2) of a new warrant.
Each new full warrant entitles the bearer to purchase one Common Share of the company at an exercise price of C$.15 per share for a period of 12 months from the exercise date. Each warrant will be callable at the company's discretion, upon the stock trading above twenty five ($.25) cents for more than 30 days.
Company has 16,847,082 wts that can be exercised at this time, at a price of $.10.
Company has 2,079,841 wts that can be exercised after Sept. 30, 2017, and 1,539,460 wts that can be exercised after Oct 8, 2017, at a price of $.10 these warrant holders will have until October 20, 2017, 5pm EST, to exercise their warrant(s) to receive the new half warrant.
About DNI Metals
Certain advisors and directors of DNI have significant operational experience at historical hard rock graphite mines in Canada (e.g. Ontario and Quebec) and Australia. Between them, they have built three (3) processing plants and designed two (2) others; all, which were shut down in the 1990,'s due to increased Chinese competition. Keith Minty, a director, previously worked at Cal Graphite near Kearny, Ontario.
It was our team's understanding of the high production and capital expenditure costs associated with so-called "hard rock" graphite mining that inspired DNI to search for saprolite-hosted graphite deposits.
Certain parts Madagascar and Brazil, produce graphite from weathered material called saprolite.
According to Dictionary.com, saprolite is described as:
"Soft, thoroughly decomposed and porous rock, often rich in clay, formed by the in place chemical weathering of igneous, metamorphic, or sedimentary rocks. Saprolite is especially common in humid and tropical climates. It is usually reddish brown or grayish white and contains those structures (such as cross-stratification) that were present in the original rock from which it formed."
DNI owns a commercially permitted, saprolite-hosted graphite deposit in Madagascar; located 50kms from the country's main seaport. The deposit is located less than two (2) kms from the paved national highway. DNI intends to develop the Vohitsara project, should the economic viability and technical feasibility be established. DNI has not yet established mineral resources or mineral reserves supported by a PEA or mining study (PFS or FS).
DNI has a graphite wholesale business, in which it buys and sells high quality graphite. This business has shown a steady increase in volume over the past year.
Steven Goertz (MAusIMM, MAIG), who is a qualified person, approved the technical disclosure in this news release.
DNI — Canadian Securities Exchange
DMNKF - OTC
We seek Safe Harbour. This announcement may include forward looking statements. While these statements represent DNI's best current judgment, they are subject to risks and uncertainties that could cause actual results to vary, including risk factors listed in DNI's Annual Information Form and its MD&A's, all of which are available from SEDAR and on its website.