NOT FOR DISSEMINATION IN THE UNITED STATES
OR THROUGH U.S. NEWSWIRE SERVICES
DYNASTY METALS & MINING INC.
COMPLETES
$6,000,000 EQUITY FINANCING
Vancouver, BC, November 3, 2009 -
Dynasty Metals & Mining Inc. (TSX: DMM, the
"Company") reports the closing of its previously-announced
underwritten private placement offering of 1,500,000 common shares at a
price of $4.00 per share for gross proceeds of $6,000,000. The offering was
underwritten by Canaccord Capital Corporation, as
lead underwriter, and Cormark Securities Inc.
The proceeds of the financing will be used to fund development of the
Corporation's Ecuador properties as well as for general corporate purposes.
The shares issued in the financing and any shares issued upon the exercise
of broker warrants are subject to resale restrictions until March 4, 2010.
The securities have not been and will not be registered under the U.S.
Securities Act of 1933 (the "1933 Act"), as amended, or under any
state securities laws, and may not be offered or sold, directly or
indirectly, or delivered within the United States or to, or for the account
or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act)
absent registration or an applicable exemption from registration
requirements. This news release does not constitute an offer to sell or a
solicitation to buy such securities in the United States.
About Dynasty Metals & Mining
Dynasty Metals & Mining Inc. is a Canadian based mining company
involved in the exploration and development of mineral properties in
Ecuador.
The Company has the producing Zaruma Gold
Project, the first large scale modern mine and processing facility in
Ecuador. In addition, the Company has the advanced-stage Jerusalem Project,
and a highly prospective exploration project, the Dynasty Copper-Gold Belt,
which includes the Dynasty Goldfield.
Dynasty Metals & Mining Inc.
Robert Washer, President and CEO
For further information please visit the Company's website at www.dynastymining.com or please contact:
This news release includes "forward-looking information", as such term is defined in applicable securities laws.
The forward-looking information includes, without limitation, the
estimation of mineral resources, the realization of mineral resources
estimates, the success of exploration activities and other similar
statements concerning anticipated future events, conditions or results that
are not historical facts. These statements reflect management's current
estimates, beliefs, intentions and expectations; they are not guarantees of
future performance. The Company cautions that all forward-looking
information is inherently uncertain and that actual performance may be
affected by a number of material factors, many of which are beyond the
Company's control. Such factors include, among others, risks and
uncertainties relating to exploration and development; the ability of the
Company to obtain additional financing; the Company's limited operating
history; the need to comply with environmental and governmental
regulations; political and economic instability and general civil unrest in
Ecuador; potential defects in title to the Company's properties;
fluctuations in currency exchange rates; fluctuating prices of commodities;
operating hazards and risks; competition; and other risks and
uncertainties, including those described in the Company's Annual
Information Form dated March 25, 2009 filed with the Canadian Securities
Administrators and available at www.sedar.com. Accordingly, actual future
events, conditions and results may differ materially from the estimates,
beliefs, intentions and expectations expressed or implied in the
forward-looking information. All statements are made as of the date of this
news release and the Company is under no obligation to update or alter any
forward-looking information.
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