Dundee Mines raises $1.95 million

Dundee Mines Ltd. has filed with the TSX Venture Exchange documentation related to two previously announced non-brokered private placements with gross proceeds of $1,953,550.

The company has received subscriptions for 3,143,000 flow-through units at a price of $0.35 per unit (one flow-through common share and one-half non flow-through share purchase warrant, with each full warrant exercisable for a period of 18 months to purchase one additional non flow-through common share at an exercise price of C$0.50 per common share); and, subscriptions for 2,845,000 units at a price of $0.30 per unit comprising one non-flow through common share and one-half share purchase warrant with one full warrant exercisable to purchase one common share for a period of 18 months at a price of $0.35 per share.

The proceeds from the private placements will be for working capital and the advancement of the company’s projects in SE British Columbia. The private placements and finder’s fees that may be payable are subject to regulatory approval.