Diamonds North closes non-brokered private placement
by Jo Black
Diamonds North Resources Ltd., a dynamic exploration company focused on strategically advancing diamond opportunities and determined to discover Canada’s next diamond mine, has closed the final tranche of the previously announced non-brokered private placement financing.
The company has raised $552,550 and involved the issuance of 16,833 Flow-Through Shares and 507,000 Non Flow-Through Units. With the help of these funds the company now has over $17 million in its treasury.
The company has paid finders fees consisting of $30,051 cash and the issuance of share purchase warrants entitling finders to purchase up to 28,620 common shares for a period of one year from the closing at a price of $1.30 per share.
All securities issued pursuant to the bought deal financing and the first tranche of the non-brokered private placement are subject to a statutory hold period expiring on November 10, 2008.
Story link: Diamonds North closes non-brokered private placement
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