DGAP-News

DNI Metals - Closes $1,011,801.96 Financing

DGAP-News: DNI Metals Inc. / Key word(s): Miscellaneous DNI Metals - Closes $1,011,801.96 Financing 04.05.2017 / 19:03 The issuer is solely responsible for the content of this announcement. Toronto, Ontario--(Newsfile Corp. - May 4, 2017) - DNI Metals Inc. (DNI: CSE) (FSE: DG7N) (OTC: DMNKF) ('DNI' or the 'Company') DNI Is pleased to announce the following:

Further to its news release dated April 5th, 2017, the Company has closed, subject to final Regulatory approval, the first tranche (the 'first Tranche') of its non-brokered private placement financing (the 'Private Placement'). The first Tranche comprises 15,566,184 units of the Company (the 'Units') at a price of CDN$0.065 per Unit for aggregate gross proceeds of CDN$1,011,801.96. Each Unit consists of one common share of the Company (a 'Common Share') and one half common share purchase warrant of the Company ('Warrant'). Each Warrant will entitle the holder to acquire one additional Common Share at a price of CDN$0.10 per Common Share for a period of 18 months following the date of the closing. All securities issued are subject to a four month hold period expiring on September 4^th, 2017. Insiders subscribed for 25.5% of the securities in the Private Placement.

An aggregate cash commission of $56,355.39, plus an aggregate of 762,006 common share purchase warrants (the 'Finder's Warrants') are, subject to final Regulatory approval, payable in connection with the closing. Each Finder's Warrant will be exercisable into one Common Share at an exercise price of CDN$.10 for a period of 18 months following issuance.

The Company expects to use the proceeds raised to fund general and operating working capital.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

About DNI Metals

Certain advisors and directors of DNI have significant operational experience at historical hard rock graphite mines in Canada (e.g. Ontario and Quebec) and Australia. Between them, they have built three (3) processing plants and designed two (2) others; all, which were shut down in the 1990,'s due to increased Chinese competition. Keith Minty, director, worked at Cal Graphite near Kearny, Ontario.