Dinero Ventures closes $175,000 private placement

Executive Summary

• Dinero Ventures Ltd. has closed its previously announced non-brokered private placement financing, raising a total of $175,000 in gross proceeds.
• The financing consists of 1.25 million flow-through (FT) units and 500,000 non-flow-through (NFT) units, both priced at $0.10 per unit.
• Each unit includes one common share and one common share purchase warrant, with warrants exercisable at $0.10 per share for a period of three years.

Key Details

• Flow-Through Units: 1.25 million FT units issued at $0.10 per unit, generating gross proceeds of $125,000.
• Non-Flow-Through Units: 500,000 NFT units issued at $0.10 per unit, generating gross proceeds of $50,000.
• Warrant Terms: Each unit (FT and NFT) includes one warrant. Each warrant entitles the holder to purchase one additional common share at an exercise price of $0.10 per share. The warrants are exercisable for a period of three years from the date of issuance.
• Use of Proceeds:
  • FT Unit proceeds: To incur eligible Canadian exploration expenses (CEE) qualifying as flow-through mining expenditures under the Income Tax Act (Canada).
  • NFT Unit proceeds: For general working capital and corporate purposes.
• Restrictions: All securities are subject to a statutory hold period of four months and one day from the date of issuance.
• Regulatory Status: The private placement remains subject to final approval of the TSX Venture Exchange.

Notable Quotes

• None provided in the text.