DNI Metals Inc. (OTCPK:DMNK.F) announced that it has entered into a subscription agreement for private placement of up to 1,000 convertible debentures at an issue price of CAD 1,000 per convertible debenture for gross proceeds of up to CAD 1,000,000 on December 14, 2018. The debentures will be issued at face value and carry a coupon rate of 12%. The debentures are convertible into 12,500,000 units at a conversion price of CAD 0.08 per unit. Each unit consists of one common share and one-half warrant of the company. Each warrant will entitle the holder to purchase one common share of the company at an exercise price of CAD 0.20 per share for a period until July 27, 2022. If the debenture holder converts the security prior to maturity, the coupon payment will be forfeited.