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News Archives
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NEWS RELEASE
DUMONT NICKEL INC. - Jul 2, 2009
DUMONT COMPLETES INTERIM FINANCING FOR ALBERTA POLYMETALLIC BLACK
SHALE PROJECTS
DUMONT NICKEL INC.
(DNI:TSX-Ven, DG7:FSE) is pleased to announce that it has
completed the first tranche of a non brokered private placement
financing of flow-through and non-flow-through shares, with arm's
length and non arm's length parties, for total proceeds of $207,500.
The securities issued under the private placements are subject to a
four-month hold period expiring on November 1, 2009. A second
tranche is anticipated to close by mid July.
The financing consisted of: (a) placement of 2,900,000 flow through
shares at a price of 2.5 cents each; and (b) placement of 5,400,000
units at a price of 2.5 cents per unit, each unit consisting of one
common share and one common share purchase warrant entitling the
holder to purchase an additional common share of the company at a
price of five cents for a period of twelve months from closing.
Insiders of DUMONT participated in the placements to an aggregate of
$20,000.
The current closing is part of a larger private placement financing
to be concluded by July 17, 2009, on terms which contemplate two
different types of placements as follows: (a) issuance of up to up
to 20,000,000 million flow-through shares at a price of 2.5 cents
each, for gross proceeds of up to $500,000; and (b) issuance of up
to 20,000,000 million units at a price of 2.5 cents per unit, for
gross proceeds of up to $500,000, each unit consisting of one common
and one common share purchase warrant entitling the holder to
purchase an additional common share of the company at a price of
five cents for a period of twelve months from closing. Insiders
might participate in the financing.
Proceeds of the financing will be applied toward ongoing work on
DUMONT’s polymetallic shale Properties in Alberta, toward the
related sampling and leaching testwork program announced June 11,
2009, to optimize metals recovery parameters, and toward meeting
short term operating working capital requirements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
DNI - TSX Venture
DG7 - Frankfurt
Issued: 155,048,101 (163,348,101 post financing)
For further information, contact:
Dumont Nickel Inc. - Shahe Sabag, President & CEO or Denis Clement,
Chairman (416-595-1195)
email ir@dumontnickel.com. Also visit www.dumontnickel.com
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