Duluth Metals Starts Private Placement Offering

 Duluth Metals (TSX:DM) announced it has entered into an agreement with Industrial Alliance Securities to start a private placement for proceeds of up to $5 million. Proceeds from the offering will be used to fund certain development expenses of the Twin Metals Project and for general corporate purposes.

According to the press release:

Proceeds from the Offering will be used to fund certain development expenses of the Twin Metals Project and for general corporate purposes. The expected closing date is on or about October 21, 2014 or such date as the Company and Industrial Alliance may agree. All securities issued by the Company in connection with this Offering will be subject to a statutory hold period of four months plus one day.

Antofagasta Investment Company Limited, a wholly-owned subsidiary of Antofagasta plc, and Wallbridge Mining Company Limited have pre-emptive rights to participate in the Offering.

Click here to read the Duluth Metals Limited (TSX:DM) press release
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