Mr. Adolf Petancic reports
PRIVATE PLACEMENT NOT COMPLETED
Further to the Stockwatch news release on Nov. 15, 2010, announcing Dentonia Resources Ltd.'s proposed three-million-unit private placement, no funds were received under this private placement.
However, two shareholders of Dentonia advanced the sum of $75,000 to Dentonia by way of loans, to be secured by Dentonia's interest in the WO diamond block (D027 and D018), located in Northwest Territories, near the Diavik diamond mine.
The funds received were and are being used for corporate purposes and for final payment under the option agreement to acquire a 100-per-cent interest in the Stafford tungsten project, which is located north of Campbell River on the coast of British Columbia.
Beginning in April and depending on the availability of funds, up to a 1,000-metre diamond drill program is planned at the Stafford tungsten project.