Dunnedin Announces Private Placement of up to $500,000
Dunnedin Announces Private Placement of up to
$500,000
Vancouver, British Columbia--(Newsfile Corp. - November 14, 2019) -
Dunnedin Ventures Inc. (TSXV: DVI) (the "Company" or
"Dunnedin") announces a non-brokered private placement financing of up to $500,000 (the "Private Placement") of a
combination of non flow-through units priced at $0.075 and flow-through units priced at $0.1125 (each, a "Unit"). Each Unit to be
issued in the Private Placement will consist of one common share in the capital of the Company and one-half-of-one transferable
common share purchase warrant (a "Warrant"). It is anticipated that key existing shareholders and insiders of the Company will
participate in the Private Placement on the terms described herein.
Claudia Tornquist, President and CEO of Dunnedin said, "This small top-up financing will bolster Dunnedin's reserves and give
us additional flexibility as we execute our initial drill program at our 100% owned MPD copper-porphyry project in Southern
British Columbia, and plan our exploration strategy for 2020. Our crews are on site at MPD and the work is progressing on time
and on budget. A particularly intriguing area we are drill-testing is a porphyry target at Prime that was tagged during historic
drilling in 2013 and never followed up. In this area both copper and gold grades, and bornite increased at depth, which is the
desired outcome. Historic results include a drill intercept of 123 metres of 0.25% copper and 0.03g/t gold, including 0.34%
copper and 0.066 g/t gold over the last 25 metres, before the hole ended, still in mineralization. This is just one of many
examples that illustrate the excellent discovery potential at MPD. We are looking forward to the results of the current drill program
by January."
The Warrants to be issued as part of the Units will entitle the holder to acquire an additional common share at a price of $0.15
for a period of twenty-four months.
They are subject to accelerated expiry in the event the common shares of the Company trade
on the TSX Venture Exchange at a closing price of $0.25 or more for twenty consecutive trading days.
Proceeds of the Offering will be used to fund the Company's exploration programs on its wholly owned, advanced-stage copper
porphyry exploration projects in British Columbia and Arizona, and for general corporate purposes.
The closing date for the Private Placement is scheduled to occur on or before November 28, 2019. The Company may pay
finders' fees under the offering in accordance with applicable securities laws and the policies of the TSX Venture Exchange. All
securities issued in the Private Placement will be subject to a statutory four month hold period.
Closing of the Private Placement
is subject to negotiation and execution of definitive documentation and receipt of all regulatory approvals, including approval of
the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.
The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For further information please contact Mr. Knox Henderson, Investor Relations, at 604-551-2360 or
.
On behalf of the Board of Directors
Dunnedin Ventures Inc.
Claudia Tornquist
President & CEO
About Dunnedin Ventures Inc.
Dunnedin Ventures is advancing copper porphyry projects in Canada and the USA; and the Kahuna diamond project in Nunavut,
Canada. Dunnedin's porphyry assets all present known mineral discoveries with the potential to hold large-scale deposits. They
include the Trapper copper-gold porphyry project in the northern Golden Triangle region of British Columbia, the MPD copper-
gold porphyry project in the prolific Quesnel Trough in south-central British Columbia and the Mohave copper-molybdenum-silver
porphyry project near the world-class Bagdad mine in Arizona.
The advanced-stage Kahuna diamond project in Nunavut hosts a high-grade, near surface inferred diamond resource and
numerous kimberlite pipe targets. Dunnedin has title to 809 km2 of mineral tenure, with diamond rights covering 1,664 km2 in
Nunavut, 26 kilometres from Rankin Inlet and adjacent to Agnico Eagle's Meliadine gold mine. Dunnedin's exploration is aimed
at the discovery of diamondiferous kimberlite pipes, working with its advisor and largest shareholder Dr. Chuck Fipke.
Based in Vancouver, Dunnedin is backed by a world-renowned team of exploration experts with decades of combined
exploration experience and significant capital market strength. Dunnedin is part of the Discovery Group of companies led by
John Robins, one of the most successful mining entrepreneurs in Canada.
Neither 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.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which
are not historical in nature are intended to be, and are hereby identified as, "forward- looking statements".
Forward-looking
statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar
expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the
Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual
results to differ materially from those indicated in the forward-looking statements. Accordingly, readers should not place
undue reliance on forward-looking statements.
Forward-looking statements contained herein are made as of the date of this
news release and the Company disclaims any obligation to update any forward- looking statements, except as required by
applicable securities laws.
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https://www.newsfilecorp.com/release/49722