Dunnedin announces private placement of up to $500,000
14 November 2019
Dunnedin Ventures Inc. announces a non-brokered private placement financing of up to $500,000 of a combination of non flow-through units priced at $0.075 and flow-through units priced at $0.1125. Each Unit to be issued in the Private Placement will consist of one common share in the capital of the Company and one-half-of-one transferable common share purchase warrant. It is anticipated that key existing shareholders and insiders of the Company will participate in the Private Placement on the terms described herein.
Claudia Tornquist, President and CEO of Dunnedin said, “This small top-up financing will bolster Dunnedin’s reserves and give us additional flexibility as we execute our initial drill program at our 100% owned MPD copper-porphyry project in Southern British Columbia, and plan our exploration strategy for 2020. Our crews are on site at MPD and the work is progressing on time and on budget. A particularly intriguing area we are drill-testing is a porphyry target at Prime that was tagged during historic drilling in 2013 and never followed up. In this area both copper and gold grades, and bornite increased at depth, which is the desired outcome. Historic results include a drill intercept of 123 metres of 0.25% copper and 0.03g/t gold, including 0.34% copper and 0.066 g/t gold over the last 25 metres, before the hole ended, still in mineralization. This is just one of many examples that illustrate the excellent discovery potential at MPD. We are looking forward to the results of the current drill program by January.”