Dianor completes $2.38 million private placement

Dianor Resources Inc., an innovative exploration company focused on advancing diamond exploration properties in Canada, has closed its previously-announced private placement with Northern Securities Inc. and Desjardins Securities Inc. The company is likely to use the funds on its Leadbetter Diamond Project and some other exploration properties.

The diamond company has collected $2.38 million by placing 5,157,300 “flow-through” units at a price of $0.30 per unit and 3,355,500 units at a price of $0.25 per unit.

The company plans to close the second private placement on or around July 7th that will bring the total proceed of the two closings to a minimum of $3.5 million (including a minimum of $1.2 million in Units).

Each of the 5,157,300 “flow-through” units consists of one “flow-through” common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of Dianor at a price of $0.32 for 24 months.

Each of the 3,355,500 units consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share of Dianor at a price of $0.30 for 24 months.

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