2022-08-12 12:29:56
Vancouver, British Columbia – August 10, 2022: Dinero Ventures Ltd. (the “Company”) is pleased to announce that it has completed its initial public offering (“IPO”) in which it distributed 5,000,000 common shares of the Company at a price of $0.15 per common share for aggregate gross proceeds of $750,000 pursuant to the Company’s final prospectus dated May 12, 2022. The Company’s common shares were listed on the TSX Venture Exchange at market open on August 10, 2022 and immediately halted pending the closing of the IPO. Trading of the common shares is expected to resume on the TSX Venture Exchange on or about Friday, August 12, 2022 under the trading symbol “DNO”.
Pursuant to an agency agreement dated May 12, 2022, Research Capital Corporation (the “Agent”) acted as agent in respect of the IPO. In connection with the IPO, the Agent received a cash commission of $75,000 and an aggregate of 500,000 non-transferable share purchase warrants, each such warrant entitling it to purchase one common share of the Company for $0.15 at any time until August 10, 2024. The Agent also received a corporate finance fee of $35,000 plus taxes. The net proceeds of the IPO will primarily be used to fund a $450,000 exploration program on the Company’s Raven Property, located in the Lillooet Mining Division of British Columbia, as well as for general and administrative costs over the next twelve months.
As a result of the closing of the IPO, the Company now has 22,200,000 common shares issued and outstanding.
Additional information on the Company, the IPO and the Raven Property can be found in the Company’s final prospectus dated May 12, 2022 as filed on SEDAR at www.sedar.com.
Contact Information – For more information, please contact:
Randolph Kasum, Chief Financial Officer, Corporate Secretary and Director
Tel: (250) 615-8892
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Forward-Looking Statements
This press release contains “forward‐looking information or statements” within the meaning of Canadian securities laws, which may include, but are not limited to statements relating to the date of first trading in the Company’s common shares and its future business plans. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, fluctuations in metal and commodity prices, market prices, failure to obtain permits, and continued availability of capital and financing, and general economic, market or business conditions. In particular, there is no guarantee that exploration work, as proposed, or otherwise, will be completed on the Raven Property. Such forwardlooking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Company’s final long form prospectus dated May 12, 2022 and filed under the Company’s profile on SEDAR at www.sedar.com. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
