Private Placement Completed
Vancouver, February 9th, 2005 -- Diamonds North Resources Ltd. (DDN -- TSX Venture) reports that the non-brokered private placement announced on January 28, 2005 has been completed. A total of 58,253 common shares were issued to Teck Cominco Limited on February 3, 2005 at a price of $1.03 per share. The shares may not be traded until June 4, 2005. The proceeds from the private placement will be used for general working capital.
Diamonds North Resources Ltd. also announces the company's auditors have changed from G. Ross McDonald, Chartered Accountant to Smythe Ratcliffe, Chartered Accountants. The change is as a result of a merger between the two firms.
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
Mark Kolebaba
President & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release
For further information, please contact:
Diamonds North Resources Ltd.
Corporate Communications: Nancy Curry
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Website: diamondsnorthresources.com
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