July 18, 2008

Dianor completes $365,000 private placement


by Sarah Wilsdon

Dianor Resources Inc., an innovative exploration company focused on advancing diamond exploration properties in Canada, has held a third and final closing of its previously-announced private placement with Northern Securities Inc. and Desjardins Securities Inc.

Dianor completed the third leg of private placement by placing 1,166,667 “flow-through” units at a price of $0.30 per unit and 42,000 units at a price of $0.25 per unit, for aggregate gross proceeds of $365,000.10.

This third closing follows the one held on June 30, 2008, as well as the one held on July 8, 2008.

Each of the 1,166,667 “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 42,000 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.

Story link: Dianor completes $365,000 private placement



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