Dianor Resources Inc -
Dianor completes financing
Dianor Resources Inc
DOR
Shares issued 13,641,258
1999-08-06 close $0.12
Tuesday Aug 10 1999
Mr. David McDonald reports
Dianor Resources Inc. has completed the second closing of its financing of
$399,000 as well as the closing of $150,000 private placement for a total of
$549,000.
The $399,000 financing was executed at a price of 25 cents per share a total of
1,596,000 additional shares and 1,596,000 warrants. Each warrant allows its
holder to subscribe to one Dianor common share at a price of 35 cents before
Dec. 31, 1999. The agent was Obligations Montreal Inc.
The $150,000 financing was executed through a private placement at a price of
20 cents per share. Dianor will issue a total of 750,000 additional shares as well
as a total of 750,000 warrants to the subscribers. Each warrant allows its holder
to subscribe to one Dianor common share at a price of 26 cents for a period of 24
months.
An exploration program is under way on Dianor's Yasinski and Yasinski North
properties and the MEP 1404 which are in the James Bay area.
The continuing program consists of prospecting and geological mapping and is
executed in the area of the gold showings which yielded results varying between
1.26 grams per tonne Au (0.04 ounces) and 1,917.75 g/t Au (56 ounces) from
four samples collected in a metric-size quartz-carbonate lens containing visible
gold. A more through geological understanding of the main gold showing and the
follow-up prospecting on the principal veins will increase the probability of
delineating a significant mineralized zone.
The work carried out to date suggests the presence of several new promising
mineralized sectors. A compilation of the first results is under way and more
precise information will be released as soon as available. All assays are performed
with an atomic absorption method and a metallic sieve method at the Intertek
Testing Services Laboratory in Val d'Or, Que. |
