Ms. Marie-Jose Girard reports
DIOS CLOSES FIRST TRANCHE OF PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT FOR $200,000
Dios Exploration Inc. has closed the first tranche of $200,000.01 of its previously announced $600,000 non-brokered private placement. Pursuant to this first closing, Dios issued 5,714,286, units of Dios at a price of 3.5 cents per unit, each consisting of one flow-through common share of Dios and one-half warrant, one whole warrant entitling its holder thereof to subscribe for one common share of Dios at five cents per share for two years from date of issuance.
The proceeds will be used by Dios for mining exploration in the province of Quebec, such as diamond drilling for gold and other metals (copper, zinc) on its road-accessible properties, Quebec, near facilities.
The common shares and all warrants issued pursuant to this placement are subject to a restricted hold period of four months and one day, ending on Feb. 28, 2027, under applicable Canadian securities laws. The placement remains subject to final approval of the TSX Venture Exchange. A cash finder's fee of 7 per cent was paid by Dios to an arm's-length party, as well as 400,000 finder's warrants, each entitling its holder to subscribe for one common share of Dios at five cents per share for two years.
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