DYNASTY ANNOUNCES CLOSING OF OVERSUBSCRIBED PRIVATE PLACEMENT
Vancouver, B.C., September 5, 2017 – Dynasty Metals & Mining Inc. (“Dynasty” or the “Company”) (TSXV: DMM, OTCQX: DMMIF) is pleased to announce that it has closed the second tranche (the “Second Tranche”) of its previously announced non-brokered private placement of units (the “Private Placement”).
For the Second Tranche, the Company issued 2,555,086 units of the Company (each a “Units”) at a price of $0.30 per Unit for aggregate gross proceeds of CAD$766,525. As the financing was oversubscribed, the Company issued, together with the first tranche that closed on August 3, 2017, a total of 4,178,000 units pursuant to the Private Placement for aggregate gross proceeds of CAD$1,253,400.
Each Unit is comprised of one common share of the Company (each a “Common Share”) and one half of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant”). Each Warrant entitles the holder to purchase one Common Share at a price of $0.45 for a period of two (2) years following the date of issuance, subject to acceleration in the event that the closing price of the Common Shares is $0.60 or higher over a period of ten (10) consecutive trading days. The securities issued pursuant to this tranche of the Private Placement are subject to a four month hold period that expires on January 2, 2018.
The Company intends to use the net proceeds from the Private Placement for working capital and general corporate purposes.
In connection with the Second Tranche, the Company paid cash finders’ fees totaling CAD$18,349 to a certain individual and Haywood Securities Inc.
The Private Placement has been conditionally approved by the TSX Venture Exchange but remains subject to final exchange approval.
Dynasty Metals & Mining Inc. (TSXV: DMM, OTCQX: DMMIF) is a Canadian based mining company involved in the mining, exploration and development of mineral properties in Ecuador. The Company is currently focused on gold production at its wholly-owned Dynasty Goldfield project and continued development at its Zaruma mine. Mineral is treated at the Company’s wholly-owned treatment plant close to the Zaruma mine operations. The Company also owns other significant gold exploration projects including the Jerusalem Project (located 30 kilometres south of the Fruta del Norte project), the Copper Duke area and the Linderos area in southern Ecuador.
For further information please visit the Company’s website at www.dynastymining.com or please contact:
Keith Piggott, CEO
Suite 1201 – 1166 Alberni Street
Vancouver, B.C. V6E 3Z3
Phone: +1 (604) 345-4822