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Oct 12, 2006 : Diamonds North and Arctic Star to Explore in Canada's Newest Kimberlit... more...
Oct 05, 2006 : 19 New Kimberlite Float Occurrences on Amaruk Further Demonstrates the... more...
Sep 27, 2006 : Drill Targets Identified on the Ualliq property more...
Sep 20, 2006 : Diamonds North Increases Kimberlite Tally to Five Demonstrating Amaruk... more...
Aug 23, 2006 : Target Testing Underway at Amaruk -- New Kimberlite Discovered more...
Aug 15, 2006 : Shear Minerals and Diamonds North to Explore the Sakari property more...
Aug 02, 2006 : Diamonds North and International Samuel to Explore the Ualliq property more...
Aug 01, 2006 : Diamonds North Closes Plan of Arrangement for Shareholders to Receive ... more...
Jul 19, 2006 : Diamonds North sets Effective Date for Shareholders to Receive Uranium... more...
Jul 17, 2006 : Pathfinder Starts Major Airborne Geophysical Survey at Thelon Basin Ur... more...
Jul 14, 2006 : Diamonds North Grants Options more...
Jul 13, 2006 : Diamonds North To Drill The Amaruk Project more...
Jul 12, 2006 : Diamonds North Completes $3,265,000 Equity Financing more...
Jul 11, 2006 : Diamonds North Financing Update more...
Jul 05, 2006 : Diamonds North and Majescor Developing Drill Targets on Banks Island more...
Jun 29, 2006 : Diamonds North Announces Equity Financing more...
Jun 27, 2006 : Diamonds North Positions Uranium North in Athabasca, Thelon and Hornby... more...
Jun 22, 2006 : Diamonds North Receives King Eider Diamond Results more...
Jun 07, 2006 : Diamonds North Appoints Uranium North's Board of Directors more...
May 09, 2006 : Amaruk Update - Microdiamond Characteristics Exceptional more...
Dec 14, 2005 : Diamonds North Completes $4,500,000 Equity Financing more...
Dec 07, 2005 : Diamonds North Increases Equity Financing To $ CDN 4,500,000 more...
Nov 23, 2005 : Diamonds North Announces Equity Financing more...
Nov 10, 2005 : Blue Ice 2005 Exploration Program Summary more...
Nov 09, 2005 : Majescor and Diamonds North Advance Potential Diamond District on Bank... more...
Sep 28, 2005 : Kimberlite Discoveries Begin on Amaruk more...
Sep 22, 2005 : Pathfinder and Diamonds North Increase Vast Land Position for Uranium ... more...
Jul 26, 2005 : Diamonds North Identifies New Uranium Opportunities on Diamond Claims more...
Jul 22, 2005 : Diamonds North Completes Private Placement more...
Jun 27, 2005 : Non-Brokered Private Placement more...
Jun 07, 2005 : Diamond Sizes Prompt Diamonds North to Increase Washburn Ownership to ... more...
Jun 01, 2005 : Uranium Potential Confirmed on Thelon Diamond Project more...
May 19, 2005 : Bill Zimmerman Joins Diamonds North Board more...
Apr 21, 2005 : King Eider Yields Three Quarter Carat Diamond more...
Apr 20, 2005 : Diamonds North and Stornoway Enter into Agreement to Explore Manitoba ... more...
Apr 14, 2005 : Diamonds North Capitalizes on Commodity Opportunities more...
Apr 12, 2005 : Prioritization of Drill Targets on Arnak more...
Apr 01, 2005 : Diamonds North Identifies Another Potential Diamond District on the Sl... more...
Mar 23, 2005 : Grant of Incentive Stock Options more...
Feb 28, 2005 : Blue Ice Property Update more...
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2006 | 2005 | 2004 | 2003 | 2002
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Tue Aug 1, 2006
Diamonds North Closes Plan of Arrangement for Shareholders to Receive Uranium North
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News Release: 06-25
Vancouver, August 1, 2006, - Diamonds North Resources Ltd. (TSX-V: DDN) ("Diamonds North") and Uranium North Resources Corp. ("Uranium North") announce that the Plan of Arrangement between the Diamonds North and Uranium North closed on July 28, 2006. For complete particulars of the Plan of Arrangement, see Diamonds North's News Release NR06-08 issued March 16, 2006. As a result of the closing, shareholders of record of Diamonds North as of July 28, 2006, as determined by the registrar and transfer agent of Diamonds North and intermediaries, have been issued one common share of Uranium North for each six common shares of Diamonds North held. No fractional shares have been issued and fractions were resolved by rounding down. Certificates for the common shares of Uranium North will be mailed to shareholders.
Upon the closing of the Plan of Arrangement on July 28, 2006, Uranium North became a reporting issuer in British Columbia and Alberta. The financial year end of Uranium North has been set at February 28. Uranium North anticipates filing on SEDAR audited financial statements prepared for the period from incorporation on March 1, 2006 to May 31, 2006. Thereafter, quarterly reports (unaudited) will be filed for the quarters ending August 31, 2006 and November 30, 2006, respectively, and the first annual financial statements of Uranium North will be audited and filed for the fiscal year ending February 28, 2007.
As a part of the Plan of Arrangement, the common shares of Diamonds North have been reclassified as new common shares. Certificates for the new common shares will be represented by the present certificates for the existing common shares and there will be no letter of transmittal sent out. Accordingly, no certificates for the new common shares of Diamonds North will be issued and shareholders should not tender their current common share certificates to Diamonds North in exchange for new common share certificates.
To raise funds to complete time sensitive geophysical surveying and prospecting on its uranium properties in 2006, Uranium North completed a non-brokered private placement of 1,025,000 of its common shares at $0.40 per share to raise a total of $410,000 which was subsequently closed on July 28, 2006. The shares are subject to a four month statutory hold period expiring on November 29, 2006. Uranium North plans to raise additional funds necessary to conduct more comprehensive exploration of its uranium properties and for working capital, particulars of which will be announced when terms are settled.
Uranium North will apply for a listing of its common shares on the TSX Venture Exchange and expects its common shares to trade thereon upon the completion of the proposed private placement and acceptance of the listing by the Exchange. As part of the conditions to listing, the Exchange may impose additional resale restrictions on the 1,025,000 private placement shares issued and on any other securities issued by Uranium North prior to listing.
ON BEHALF OF THE BOARDS OF DIRECTORS
Mark Kolebaba
CEO & President, Diamonds North Resources Ltd.
CEO, Uranium North Resources Corp.
For further information, please contact:
Corporate Communications: Nancy Curry
Diamonds North Resources Ltd.
Telephone:
Facsimile:
Website: www.diamondsnorth.com
Email:
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
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You can view the Next News Releases 2006 item: Wed Aug 2, 2006, Diamonds North and International Samuel to Explore the Ualliq property
You can view the Previous News Releases 2006 item: Wed Jul 19, 2006, Diamonds North sets Effective Date for Shareholders to Receive Uranium North
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