Dios Exploration Announces Brokered Private Placement
MONTREAL, QUEBEC -- DIOS EXPLORATION INC. (TSX VENTURE: DOS) announces a brokered placement of up to 6,666,667 Units comprised of one Common Share of DIOS at a price of $0.75 and one-half warrant. Each full warrant will entitle its holder thereof to purchase one Common Share of DIOS at $1.00 for 12 months after Closing and at $1.15 for a further 12 months.
This non-flow through offering will be made to accredited investors, within the meaning of National Instrument 45-106, residing in the Provinces of British Columbia, Alberta, Ontario, and Quebec, in reliance upon applicable exemptions from registration and prospectus requirements. The closing is expected to occur around March 27th, 2007, and is subject to the receipt of all the required regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued pursuant to the offering shall be subject to a hold period of four months from the date of closing. A commission equal to 8% of the gross proceeds, as well as broker warrants equal to 10% of issued units at $0.75, will be payable by the Corporation to Bearbeech Capital Partners Corporation. The Agent may form a selling group or utilize the services of sub-agents.
The proceeds from this placement will be used by DIOS for exploration on its properties as well as for general purposes and working capital.
DIOS reports that a total of 1,000,000 share purchase options at $ 0,75 per share were voted on March 8, 2007 by the Board to some directors, officers and employees. These options are valid until March 8, 2012.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.