DynaResource announces US$3 million private placement at US$0.45 per unit

DynaResource said proceeds are earmarked for general corporate purposes, working capital, debt service, overdue repayments and capital spending at the San José de Gracia project.

DynaResource announced a non-brokered private placement with existing stockholders to raise gross proceeds of US$3 million.

Units are priced at US$0.45 and each unit will consist of one common share and one common share purchase warrant.

The warrants will carry a US$0.51 exercise price, subject to an increase in authorized common shares; potential gross proceeds would then rise to US$6.4 million.

Investors have committed an advance of US$851,250. Closing depends on definitive documentation, and the advances will be refundable if the financing is not completed.