DNI Metals Inc (OTCPK:DMNK.F) announced a non-brokered private placement of 30,000,000 units at a price of CAD 0.08 per unit for gross proceeds of CAD 2,400,000 on September 18, 2017. Each unit will consist of one common share and one warrant. Each warrant entitles the holder to purchase one common share at a price of CAD 0.16 for a period of 18 months from the date of closing. If the volume weighted average trading price of the company's shares on the Canadian Securities Exchange is CAD 0.24 or higher for at least 30 consecutive trading days, it may accelerate the expiry date of the warrants upon 30 days' notice to the holders. The transaction is subject to approval from regulatory authorities. The securities being issued in the transaction are subject to a hold period of four months. The company may pay finder's fee to Ascenta Finance Corp.