https://www.miningweekly.com

Diamcor closes C$5.82m private placement

2nd September 2016

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

Font size: - +

VANCOUVER (miningweekly.com) – South Africa-focused diamond project developer Diamcor Mining has successfully closed an oversubscribed private placement financing totalling C$5.82-million.

The Vancouver-headquartered company issued 4.54-million units at C$1.10 each for total proceeds of C$5-million, as well as issuing 746 090 units in connection with the overallotment option for a total of 5.29-million units issued.

Each unit consists of one common share and one-half of a common share purchase warrant. Each whole warrant will entitle the holder to buy one share at an exercise price of C$1.60 until August 31, 2019. 

More than 90% of the units are being acquired by institutional investors, the company advised.

Proceeds from the offering will be used to acquire more equipment and materials to support the continued advancement of the company's Krone-Endora at Venetia project, and for general and administrative purposes, Diamcor stated.

Edited by Samantha Herbst
Creamer Media Deputy Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sika South Africa
Sika South Africa

Sika South Africa is a trusted partner for the nation’s infrastructure, commercial, residential, and industrial sectors.

VISIT SHOWROOM 
ECG Engineering
ECG Engineering

ECG provides specialised electrical engineering services to the Mining, Utilities, Materials Handling and Industrial industries, with extensive and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.066 0.916s - 110pq - 2rq
Subscribe Now