Breaking News Alert - DNA Precious Metals Inc.
(OTCQB: DNAP) -
May 1, 2014
DNA Precious Metals Inc. Announces the Completion of $500,000
Credit Facility from Private Equity Fund to Capitalize on the Company’s Ongoing
Gold and Silver Pre-Production Mining Process
Montreal, Canada – May 1st, 2014. DNA Precious Metals Inc. ("DNA" or "the
Company") (OTCQB: DNAP),
today announced the completion of a $500,000 finance credit facility
(“Facility”) from a Chicago-based private equity fund to assist in the funding
of the production facility for the processing of the Anacon Lead mining residues
located on the Montauban Mine Property. The Company received the first
$250,000 in funding this week.
The Facility stipulates an interest rate of 10% and is repayable within
twenty-two (22) months.
On February 28, 2014, the Company received approval, from the Quebec Provincial
Government's Ministry of Natural Resources ("MRN") for the Restoration Plan on
the Montauban Mine Property which will be implemented subsequent to the
Company's processing of the mining residues on the site.
On March 13, 2014, the Company received another Certificate of Authorization,
also from the Quebec Provincial Government's Ministry of Sustainable
Development, Environment, Wildlife and Parks (“MDDEFP”), with respect to
operating a cyanide closed-circuit system to process the mining residues located
on the Montauban Mine Property. Management believes that this additional permit
will enable DNA to achieve recovery rates from existing metal grades of up to
92% for gold and 77% for silver.
“With the issuance of the two (2) Certificates of Authorization issued by the
MDDEFP and the Restoration Plan approval issued by the MRN and our new funding
partners in the United States, we can now begin the process of acquiring and
installing circuit equipment in our mill facility to recuperate mica, gold and
silver from the mining residues located on the Montauban Mine Property”, stated
James Chandik, Chief Executive Officer for DNA Precious Metals, Inc.
About DNA Precious Metals, Inc.
DNA Precious Metals, Inc. is focused on near-term production of the Montauban
tailings mine in the Province of Quebec, Canada with an aggressive search for
economic production assets. The Company trades on the OTCQB market in the United
States under the stock symbol DNAP. For more information, please go to
On behalf of the Board
James Chandik, Chief Executive Officer
Forward Looking Disclaimer
This release contains forward-looking statements that involve risks and
uncertainties. Readers are referred to the Securities and Exchange Commission
filings filed by the Company on EDGAR at www.sec.gov/edgar.shtml, specifically
the most recent reports which identify important risk factors that could cause
actual results to differ from those contained in the forward-looking statements.
The Company undertakes no obligation to review or confirm analysts’ expectations
or estimates or to publicly release any revisions to any forward-looking
statements. The information contained in this press release should not be
construed as any indication of the Company’s future stock price, its revenues or
results of operations.
DNA Precious Metals, Inc.
Twitter : www.twitter.com/dnametals
SOURCE: DNA Precious Metals, Inc.
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