New Issue: Dundee Mines pockets C$1.95 million in private placement of units

By Devika Patel

Knoxville, Tenn., March 19 - Dundee Mines Ltd. said it completed a C$1.95 million non-brokered private placement of units. The deal priced for C$2.08 million on Feb. 27.

The company sold 2,845,000 units, decreased from its planned sale of 4 million units, of one common share and one half-share warrant at C$0.30 apiece. Each whole two-year warrant will be exercisable at C$0.35.

Dundee also sold 3,143,000 flow-through units, increased from its planned 2.5 million units, of one flow-through common share and one half-share warrant at C$0.35 apiece. Each whole warrant will be exercisable at C$0.50.

Proceeds will be used for working capital and the advancement of the company's projects in British Columbia.

Vancouver, B.C.-based Dundee Mines is a capital pool company.

Issuer:	Dundee Mines Ltd.
Issue:	Units of one common share and one half-share warrant, flow-through units of one flow-through common share and one half-share warrant
Amount:	C $1,953,550
Agent:	Non-brokered
Pricing date:	Feb. 27
Settlement date:	March 19
Stock symbol:	TSX Venture: DUN
Stock price:	C$0.28 at close Feb. 26
Units
Amount:	C$853,500
Units:	2,845,000
Price:	C$0.30
Warrants:	One half-share warrant per unit
Warrant expiration:	18 months
Warrant strike price:	C$0.35
Flow-through units
Amount:	C$1,100,050
Units:	3,143,000
Price:	C$0.35
Warrants:	One half-share warrant per unit
Warrant strike price:	C$0.50

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