Dia Bras Exploration Inc.
January 14, 2009
Dia Bras Announces Private Placement
MONTREAL, QUEBEC--(Marketwire - Jan. 14, 2009) - Dia Bras Exploration Inc. (TSX VENTURE:DIB) ("Dia Bras" or the "Company") announced today its intention to complete, subject to regulatory approval, a private placement for maximum proceeds of $1.7 million through the issuance of 28,333,333 units at a price of $0.06 per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder thereof to subscribe for one common share of the Company at a price of $0.15 during eighteen months following the closing. It is expected that insiders of the Company will subscribe for more than 75% of this placement. Upon closing, one of the insiders will become a Control Person of the Company in that such insider will hold more than 20% of all of the issued and outstanding common shares of the Company. Consequently, any subscription proceeds from this insider which will result in a holding of more than 20% of all of the issued and outstanding common shares of the Company will be placed in escrow pending the approval of the private placement by the shareholders of the Company at a special meeting to be held on Monday, February 16, 2009.The net proceeds of the private placement will be used to initiate the engineering study for the construction of an on-site mill at the Company's Bolivar Mine and for general corporate and working capital purposes.After taking into consideration this private placement, the Company will have 164,834,602 common shares issued and outstanding.Special MeetingThe special meeting of shareholders will be held at the Autumn Room of the Omni Mount Royal Hotel, 1050 Sherbrooke Street West, Montreal (Quebec) H3A 2R6, on Monday, February 16, 2009 at 11:00 a.m. (Montreal time). The record date for notice and voting at the special meeting is 5:00 p.m. (Montreal time) on December 19, 2008.About Dia BrasDia Bras is a Canadian exploration mining company focused on precious and base metals in the State of Chihuahua, in northern Mexico. The Company is committed to developing and adding value to its assets - the Bolivar copper-zinc project and the Cusi silver mining camp. The Company trades 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 release..
Dia Bras ExplorationDaniel TellecheaPresident & CEO514-393-8875orDia Bras ExplorationNathalie DionInvestor Relations514-393-8875www.diabras.com