Dajin Closes First Tranche Of $3,000,000 Financing
May 6, 2010
Vancouver, B.C. - Dajin Resources Corp. ( the "Company") ( DJI-V: TSX ) is pleased to report that it has closed the first tranche of the non-brokered Private Placement announced on April 13, 2010 with the issuance of 10,484,130 Units for gross proceeds of $2,361,350.† The 10,484,130 common shares issued pursuant to this financing are subject to a four month hold period expiring August 30, 2010.† A finderís fee of $88,772.50 was paid and 136,674 Units were issued in respect to this financing.† The Company expects to complete a second tranche closing on or before May 15, 2010.
Each Unit consists of one common share in the capital of the Company (a "Common Share") and one-half of a non-transferable share purchase warrant (a "Warrant").† Each whole Warrant entitles the holder thereof to purchase one Common Share of the Company at a price of $0.30 on or before April 27, 2011.† The Warrants will be subject to an accelerated exercise provision in the event the closing price of the Common Shares is greater than $0.60 per share for a period of twenty (20) consecutive trading days.† If this event occurs at any time after four months from the date of the issue of the Warrants, the Company may within 10 days elect to give notice to the Warrant holders, by way of a news release, that the Warrants shall expire within 30 days of the date of such news release.
Proceeds from the Private Placement will be used to fund a drill program on the Companyís 100% owned Salinas Grandes salar project located in northwestern Argentina, in the vicinity of salar projects operated by both Orocobre Limited and Lithium Americas Corp., and for general working capital.
About Dajin Resources Corp. (www.dajin.ca)
Dajin holds a 100% interest in boron/potash/lithium concessions, in the provinces of Salta and Jujuy in northwestern Argentina.† The principal properties in the Salar de Salinas Grandes and Guyatayoc salt lake basin cover approximately 83,000 hectares or 200,000 acres.
For further information please contact:
DAJIN RESOURCES CORP.
Brian Findlay or Dave Jenkins†††††††††††††††††††††††††††††††† ††††††††††††
Phone: (604)-681-6151††††††††††††† ††††††††††††††††††††††††††††††††††††††††††
E-mail: firstname.lastname@example.org††††††††††††† ††††††††††††††††††††††††††††††††††††††††
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adequacy or accuracy of this release.