Stewart, British Columbia--(Newsfile Corp. - October 29, 2024) - Dinero Ventures Ltd. (TSXV: DNO) ("Dinero" or the Company) has closed a non-brokered private placement of flow-through units to raise aggregate gross proceeds of $330,000.
A total of 3,300,000 flow-through units were issued at the price of 10 cents per unit to raise $330,000. Each flow-through unit consists of one flow-through common share of the company and one transferable non-flow-through common share purchase warrant. Each warrant entitles the holder to purchase, for a period of 36 months, one additional common share of the company, at a price of 10 cents per share.
All the shares and warrants, and any shares issued upon exercise of the warrants comprising the units, are subject to a hold period and may not be traded in Canada until March 1, 2025, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange.
Directors of the Company acquired 1,200,000 flow-through units for $120,000. These transactions are considered to be related party transactions, as defined under Multilateral Instrument 61-101. However, they are exempt from the formal valuation and minority shareholder approval requirements as neither the fair market value of the shares issued to, or the consideration paid, exceed 25 per cent of the company's market capitalization, as determined in accordance with MI 61-101.
The proceeds from the sale of the flow-through shares will be expended on the company's New Raven property located 15 kilometres southwest of Lillooet, British Columbia.
Dinero Ventures Ltd. is a Canadian based mineral exploration company actively seeking opportunities in the resource sector. For investor information, please call 250-636-6224.
ON BEHALF OF THE BOARD OF DINERO VENTURES LTD.
"Ed Kruchkowski"
Ed Kruchkowski, President
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
"This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements."
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