2.5mm units at $4That's a giveaway
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Dynasty Metals & Mining Inc. (TSX:
DMM) (the"Corporation") announces that the Corporation has entered into anagreement with Cormark Securities Inc. and Canaccord Financial Ltd. asco-lead underwriters (the "Underwriters") pursuant to which theUnderwriters have agreed to purchase 2,500,000 Units on a "bought deal"private placement basis at a price of $4.00 per Unit (the 'IssuePrice'). Each Unit shall consist one common share and one half of onecommon share purchase warrant (a "Warrant"). Each whole Warrant will beexercisable at a price of $5.00 for a period of 12 months from theclosing date.
The Corporation will pay the Underwriters a cashcommission equal to 6.0% of the gross proceeds of the offering and issuebroker warrants to acquire up to that number of common shares as isequal to 6.0% of the aggregate number of Units issued pursuant to theOffering at a price of $4.00 (subject to TSX approval) per common sharefor a period of 12 months following the closing date.
Closing ofthe offering is anticipated to occur on or before April 1, 2010 and issubject to receipt of applicable regulatory approvals including approvalof the Toronto Stock Exchange.
The proceeds of the financingwill be used to fund development of the Corporation's Ecuadorproperties, property acquisitions as well as for general corporatepurposes.
About Dynasty Metals & Mining
Dynasty Metals& Mining Inc. is a Canadian based mining company involved in theexploration and development of mineral properties in Ecuador.
TheCompany has the in production Zaruma Gold Project, the advanced-stageJerusalem Project, and a highly prospective exploration project, theDynasty Copper-Gold Belt, which includes the advanced-stage DynastyGoldfield.
Dynasty Metals & Mining Inc.
Robert Washer,President and CEO