Well it only seems like beer money but at least it's wasn't taken by what's his name.
Dianor Resources Inc. has completed a private placement by issuing an aggregate of 1,152,000 units to accredited investors in Quebec and Nova Scotia at a price of five cents per unit, for gross proceeds to Dianor of $57,500.
Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share of Dianor at a price of 10 cents per share until Nov. 14, 2014.
In connection with the closing of the private placement, Dianor has not paid any finders' fees.
The proceeds from the private placement will be used for working capital and corporate purposes. As a result of the closing of the private placement, there are 267,788,913 common shares of Dianor issued and outstanding.
Under applicable securities legislation and policies of the TSX Venture Exchange and OTCQX International, all of the foregoing securities are subject to a hold period expiring on March 15, 2012.