DNA Canada Inc.

DNA Canada Inc.

July 17, 2015 13:01 ET

DNA Canada Inc.: Merger With Kilkenny Capital Corporation

MONTRÉAL, QUEBEC--(Marketwired - July 17, 2015) - DNA Canada Inc. ("DNA") is pleased to announce that a majority of its shareholders have agreed on July 10, 2015 to a letter of intent with Kilkenny Capital Corporation (the "Corporation" or "Kilkenny") to merge with Kilkenny for the exploitation of the assets of the Montauban property. The transaction shall constitute Kilkenny's qualifying transaction within the meaning of the TSX Venture Exchange's policies. Concurrently with the completion of its Qualifying Transaction, Kilkenny intends to make a private placement of a minimum of $2,000,000 with many investors.

DNA has secured the Montauban Property which is composed of 122 mining claims, one mining lease and one mining concession totaling 4,183 hectares, located in the Montauban-les-Mines sector of the Notre-Dame-de-Montauban municipality, in the Montauban Township, Portneuf County, and Province of Quebec, Canada. DNA is focused on near term production of the Montauban gold silver tailings. DNA implements the final plans of the mill for the extraction process of the industrial and precious metals, such as gold, silver and mica. Certain processing equipment has been purchased by DNA and is being stored nearby the mining property. In addition, DNA has completed construction of all access roads to and from the new milling facility. The newly erected milling facility consists of an industrial steel structure building totaling 16,000 square feet. The power line source to the milling facility totaling 1.3 kilometers has also been completed. DNA has the required permits to operate a commercial scale production for the processing of the mining residues.

The Company's documents are available on www.sedar.com

Please visit the Company's website at www.dnapreciousmetals.com

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. Statements made in this news release that are not historical facts are "forward-looking statements "and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these "forward-looking" statement.

Contact Information

  • For Kilkenny Capital Corporation:
    Marcel Bergeron
    President and Chief Executive Officer
    (514) 232-3344

    For DNA Canada Inc.:
    James Chandik
    President & Chief Executive Officer
    (514) 852-2111