|DIAMONDS NORTH RESOURCES LTD. : http://www.diamondsnorth.com/ : News Releases 2004|
Fri Dec 17, 2004
Non Brokered Private Placement
|VANCOUVER, December 17, 2004 - Diamonds North Resources Ltd. (DDN-TSX Venture) announces a $30,000 non-brokered private placement with Teck Cominco Limited. Teck Cominco will subscribe for 30,000 common shares at a price of $1.00 per share. This private placement relates to the recently announced $500,000 non-brokered private placement and the June 18, 2003 Participation Agreement between Diamonds North and Teck Cominco. Teck Cominco has exercised its right to participate in financings at a level of 6% to retain its right to participate in future equity financings.
This private placement is subject to the approval of the TSX Venture Exchange. The proceeds will be used for general working capital purposes.
Diamonds North is a dynamic exploration team focused on strategically advancing diamond opportunities and is determined to discover Canada's next diamond mine.
ON BEHALF OF THE BOARD OF DIRECTORS
For further information, please contact:
Corporate Communications: Nancy Curry
Diamonds North Resources Ltd.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release
|Copyright © 2006 by Diamonds North Resources Ltd. All rights reserved worldwide.|