Brokered Private Placement
An aggregate of 168,000 Agents' Warrants to purchase up to 168,000 common shares at a price of $1.35 per share for a period of one year were granted to a syndicate led by Canaccord Capital Corporation (142,800 Agent's Warrants) and including Dundee Securities Corporation (25,200 Agent's Warrants). Cash fees totalling $185,000 were paid in connection with the financing.
All the securities are subject to a hold period and may not be traded until November 3, 2004.
The successful completion of this financing brings Diamonds North Resources' treasury to over $6 million. The exploration budget for Diamonds North's projects in 2004, including all partners' contributions, is $10 million with Diamonds North's portion being $2 million.
Diamonds North is a dynamic successful exploration team focused on strategically advancing diamond opportunities and is determined to discover Canada's next diamond mine.
On behalf of Diamonds North Resources Ltd.
Janice Davies
Corporate Secretary
For further information, please contact:
Corporate Communications: Nancy Curry
Diamonds North Resources Ltd.
Telephone:
Facsimile:
Website: https://diamondsnorthresources.com
Email: mailto:
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