Diamcor Mining Inc. - News
Summary
Each Warrant will entitle the holder to acquire one additional Class A Common share at an exercise price of CND $0.075 for a period of 36 months following the close of the first tranche.Proceeds from the offering will be used for the continued advancement of the Companys Krone-Endora at Venetia Project (the Project), the work programmes currently underway, the announced efforts surrounding drilling and bulk sampling on the greater portions of the Project, the advancement of discussions on potential acquisitions of additional opportunities aimed at increasing long-term shareholder value and added growth, and for general corporate purposes. The Company also plans to continue to advance ongoing discussions with financiers and industry related parties on additional funding scenarios which may be beneficial in further supporting the above noted objectives aimed at increasing long-term shareholder value and added growth.All private placements are subject to regulatory and/or final approval of the TSX Venture Exchange along with completion of all definitive documentation and filings as required. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States or any other jurisdiction nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.Diamcor Mining Inc. is a fully reporting publicly traded diamond mining company with a proven history, which is focused on building a growing supply of ethically sourced, non-conflict, natural rough diamonds to some of the worlds most reputable diamantaires and luxury retailers. The Venetia diamond mine is long recognized as one of the worlds top diamond-producing mines, and the deposits which occur on Companys Krone-Endora Project have been identified as being the result of shift and subsequent erosion of an estimated 50M tonnes of material from the higher grounds of Venetia to the lower surrounding areas in the direction of Krone and Endora. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing in an effort to advance the Project as quickly as possible.