Dynacor Announces the Issuance of 950,000 Common Shares Following the Exercice of 950,000 Warrants for Proceeds of $ 1.7 M CAD
MONTREAL, QUEBEC–(Marketwired – June 17, 2016) – Dynacor Gold Mines Inc. (TSX:DNG)(OTC:DNGDF) (Dynacor or the Corporation) announces that it has issued from treasury 950,000 common shares of the Corporation following the exercise of 950,000 warrants at a price of $1.83 CAD per common share for total proceeds of $1,738,500. The warrants which included an acceleration clause had been issued in January 2016, as part of the transaction for a $10.0 M USD credit facility (see press release dated January 15, 2016).
ABOUT DYNACOR GOLD MINES INC.
Dynacor is a gold ore-processing and exploration Corporation active in Peru since 1996. The Corporation differentiates itself from pure exploration companies as it generates income from its wholly owned ore-processing plant. Dynacor’s basic share count at 37.4 million outstanding is in the lowest quartile of the resource sector. The Corporation’s assets include three exploration properties, including the advanced high-grade gold Tumipampa property and an operating 85,000 TPA gold and silver ore processing mill at Metalex-Huanca. The Corporation is currently commissioning its new 300 tpd ore processing plant in Chala (Southern Peru) and expects to begin operations during Q3-2016. This new plant represents an important milestone for the Corporation’s future growth. The Corporation’s strength and competitive advantage comes with the experience and knowledge it has developed while working in Peru. Its pride remains in maintaining respect and positive work ethics toward its employees, partners and local communities.
FORWARD LOOKING INFORMATION
Certain statements in the foregoing may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Dynacor, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These statements reflect management’s current expectations regarding future events and operating performance as of the date of this news release.
Dynacor Gold Mines Inc. (TSX:DNG)
Shares outstanding: 38,378,911
President and CEO
Dynacor Gold Mines Inc.
514-393-9000 Ext. 228
Director, Investor Relations
Dynacor Gold Mines Inc.