Dunnedin Closes First Tranche of Private Placement

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[{"type":"text","content":"Dunnedin Closes First Tranche of Private Placement(via Thenewswire.ca)\n \n \nDecember 31, 2015 / TheNewswire / Vancouver, BC, Canada. - Dunnedin Ventures Inc. (the \"Company\" or \"Dunnedin\") (TSX-V: DVI) announces that it has closed the first tranche of its non-brokered private placement, announced on December 21, 2015, for gross proceeds of $429,639. On closing, the Company issued 2,800,000 non-flow-through units (the \"Non-Flow-Through Units\"), at a price of $0.05 per unit, and 4,455,997 flow-through units (the \"Flow-Through Units\"), at a price of $0.065 per unit. The Company anticipates closing a further tranche of Non-Flow-Through Units in January.\n\n \n \nEach Non-Flow-Through Unit, and Flow-Through Unit, consists of one common share of the Company, and one-half-of-one common share purchase warrant (each full warrant, a \"Warrant\"). Each Warrant entitles the holder to acquire one additional common share at a price of $0.10 per share for a period of twenty-four (24) months, subject to acceleration in the event the Company's common shares trade at a price of $0.15 or higher.\n\n \n \nIn connection with closing of the placement, the Company paid fees of $21,675, and issued 365,307 Warrants, to finders who introduced subscribers to the Company. All securities issued in connection with the placement are subject to a four-month-and-one-day statutory hold period.\n\n \n \nThe Company will use the funds raised to advance the Kahuna project and support its corporate operations.\n\n\n \nFor further information please contact Mr. Chris Taylor, M.Sc., P.Geo, CEO at 604 681 0084.\n\n\n \nOn behalf of the Board of Directors\n\n \n \nDunnedin Ventures Inc.\n\n \n \nChris Taylor\n\n\n \nChief Executive Officer\n\n \n \nAbout the Kahuna Project\n\n \n \nKahuna is an advanced stage high grade diamond project located near Rankin Inlet, Nunavut. Three main diamondiferous kimberlite dikes, Kahuna, PST and Notch, have been drilled and bulk sampled and returned grades of 0.85 to 2.18 carats per tonne. Dunnedin is now recovering diamonds from a series of samples collected in summer 2015, with the first 0.82 tonne PST sample returning 96 macrodiamonds totalling 5.34 carats (+0.85 mm), yielding a sample grade of 6.50 carats per tonne. An Inferred Resource released by Dunnedin showed over 4 million carats of macrodiamonds (+0.85 mm) at a grad...

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