Dia Bras Exploration Inc.
TSX VENTURE : DIB

Dia Bras Exploration Inc.

April 01, 2010 18:27 ET

Dia Bras Announces Rights Offering

MONTREAL, QUEBEC--(Marketwire - April 1, 2010) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OF FOR DISSEMINATION IN THE UNITED STATES

Dia Bras Exploration Inc. (TSX VENTURE:DIB) ("Dia Bras" or the "Corporation") is also pleased to announce that it will be offering rights (the "Rights") to holders of its common shares (the "Shares") of record at the close of business on April 16, 2010 (the "Record Date"), expiring May 13, 2010 (the "Expiry Date"). The offering (the "Rights Offering") will be made in the provinces of British Columbia, Alberta, Ontario and Québec, and in such other jurisdictions where Dia Bras is eligible to make such offering. Pursuant to the Rights Offering, shareholders of the Corporation as at the Record Date will receive one Right for each Share held. Four Rights will entitle the holder to purchase one Share at a price of $0.17 per share. Shareholders who fully exercise their Rights will be entitled to subscribe, pro rata, for additional Shares, if available, that were not subscribed for initially on or before the Expiry Date.

If all the Rights are exercised, Dia Bras will receive gross proceeds of $15,788,402 from the subscription of Shares which will be used primarily to finance the construction of the Bolivar mill, and the remaining funds will be used to fund exploration and development of Dia Bras and EXMIN properties.

The Rights are expected to be posted for trading on the TSX Venture Exchange under the symbol of DIB.RT. Trading of the Rights is expected to continue until 12:00 a.m. (noon) (Montreal time) on the Expiry Date.

A Rights Offering circular together with certificates evidencing the Rights will be mailed to eligible shareholders on or about April 19, 2010. Registered shareholders wishing to exercise their Rights must forward the completed Rights certificates, along with the applicable funds to Computershare Investor Services Inc. by the Expiry Date. Shareholders who own their Shares through an intermediary, such as a bank, trust company, securities dealer or broker, will receive materials and instructions from their intermediary.

About Dia Bras

Dia Bras is a Canadian exploration mining corporation focused on precious and base metals in the State of Chihuahua and other areas of northern Mexico. The Corporation is committed to developing and adding value to its most advanced assets – the Bolivar copper-zinc project and the Cusi silver mining camp. The Corporation's shares trade on the TSX Venture Exchange under the symbol "DIB". 

Forward-looking statements:

Except for statements of historical fact all statements in this news release without limitation regarding new projects, acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Dia Bras Exploration Inc.
    Daniel Tellechea,
    President & CEO
    514-393-8875 ext. 241
    or
    Dia Bras Exploration Inc.
    Karl J. Boltz
    Vice President, Corporate Development
    1-866-493-9646