18 April 2018
Dunnedin Ventures Inc. today announced that it has closed an over-subscribed non-brokered private placement of non flow-through and flow-through units for gross proceeds of $1,702,500. The company has also received $378,124 through exercise of common share purchase warrants since March 2018, for total gross proceeds of $2,080,624. The company has issued 5,341,667 NFT units at a price of $0.30 per share and 250,000 FT units at a price of $0.40 per share through the offering. Each NFT unit consists of one common share and one-half-of-one share purchase warrant entitling the holder to acquire an additional common share at a price of $0.35 for a period of twenty-four months. Each FT unit consists of one common share and one-half-of-one share purchase warrant entitling the holder to acquire an additional common share at a price of $0.47 for a period of twenty-four months. Proceeds of the offering will be used in part to fund the company’s 2018 exploration program on the Kahuna Diamond Project in Nunavut and for general corporate purposes.