Duluth Metals Limited (TSX:DM, TSX:DM.U), a PGM exploration and development company, announced that its Board of Directors decided not to push through with an IPO financing for its 100% owned Duluth Exploration Limited.

As quoted in the press release:

As a result the DEL Special Warrants distributed in August 2011 to the shareholders of Duluth Metals as a dividend in kind will expire on July 31, 2013 and DEL will continue to be a wholly-owned subsidiary of Duluth Metals.

Click here to read the full Duluth Metals Limited (TSX:DM, TSX:DM.U) press release.