Pangea updates private placement
by Jo Black
Pangea DiamondFields plc announces that despite the recent volatile global market conditions, marketing of its previously announced private placement in the U.K. and Canada is expected to complete early this week and pricing is also expected to be determined the week of 28 January, 2008. It is anticipated that the Offering will close on or about the week commencing 11 February 2008.
The net proceeds from the Offering will be used to advance the Company’s portfolio of ten projects located in the Central African Republic, Democratic Republic of the Congo, Angola and South Africa and for general corporate purposes.
The closing of the Offering will be subject to certain conditions including, but not limited to, the execution of a definitive agency agreement with the Agents and the receipt by the Company of all necessary approvals.
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