Dios Exploration closes $200,000 first tranche of private placement

Dios Exploration Inc. (TSXV: DOS) has closed the first tranche of its previously announced non-brokered private placement, raising $200,000.01 of a total planned $600,000.

According to a press release, Dios issued 5,714,286 units at $0.035 per unit. Each unit consists of one flow-through common share and one half-warrant, with one whole warrant entitling the holder to purchase one common share at $0.05 per share for two years from the date of issuance.

The company said proceeds will be directed toward mining exploration in Quebec, including diamond drilling for gold, copper, and zinc on road-accessible properties near existing facilities.

All common shares and warrants issued under the placement are subject to a hold period of four months and one day, expiring Feb. 28, 2027, under Canadian securities laws. The placement remains subject to final approval by the TSX Venture Exchange.

Dios paid a 7% cash finder's fee to an arm's-length party, along with 400,000 finder's warrants, each entitling the holder to purchase one common share at $0.05 per share for two years.

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