Business
DNI Metals Signs Non-Binding Letter of Intents ("LOIs") to Acquire Two Companies
Toronto, Ontario--(Newsfile Corp. - January 28, 2016) - Under terms of the LOIs, DNI Metals In...
About this update from Copper Road Resources Inc
[{"type":"text","content":"DNI Metals Signs Non-Binding Letter of Intents (\"LOIs\") to Acquire Two CompaniesToronto, Ontario--(Newsfile Corp. - January 28, 2016) - Under terms of the LOIs, DNI Metals Inc. (CSE: DNI) (FSE: DG7N) (OTC Pink: DMNKF) will acquire 100% of the shares of CR Capital Corp. (TSXV: CIT.H) (\"CR\"), a publicly listed company, and 100% of a privately owned Canadian company (\"PC\"). Both companies are currently operating in the mineral exploration business.Under terms of the LOI, shareholders of CR will receive two (2) common shares of DNI for every one (1) share of CR they currently own for a total of 16,654,674 common shares of DNI; and the shareholders of the private company will receive one (1) common share of DNI for every one (1) share of PC they currently own for a total of 23,544,165 common shares of DNI.Following the approval of all the respective Boards of Directors, the approval of shareholders of both CR and PC, the approval by securities regulators and stock exchanges, and to the extent required shareholder approval, as well as completion of definitive agreements, DNI will have approximately 69,785,043 common shares issued and outstanding.The completion of these acquisitions will provide DNI with cash and working capital of approximately $2.2 million and copper and zinc properties in Canada.DNI will continue to build an Industrial Metals company, focusing on its Graphite project in Madagascar, its graphite wholesale business (supplying graphite from Brazil to customers in North America), and completion of the acquisition of the cash-flowing laboratory/technology centre in Mississauga.Neither the CSE, TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this releaseDNI - CSEDG7 - FrankfurtIssued: 29,586,204 For further information, contact:DNI Metals Inc. — Dan Weir, President & CEO [email protected] Tosine,Advisor to DNI Metals Inc.Capital Markets and Investor RelationsE-mail: [email protected]: [email protected]. Also visit www.dnimetals.comABOUT DNI METALS INC.DNI Metals Inc. is building a vertically integrated industrial metals company, focused on acquiring a cash-flow positive, commercial mining-related laboratory; continuing to build the Company's wholesale graphite business shipping ...