Diamonds in the news: Sierra Leone Diamond Company Limited completes Cdn. $3,500,000 equity offering.
Excerpt:
Sierra Leone Diamond Company Limited
(the "Company") is pleased to announce that the Company has completed the
private placement of 7,000,000 units of the Company to Timis Diamond
Corporation Limited ("TDC") for total gross proceeds of Cdn. $3,500,000.
One-half of the units of the Company each consist of one common share and one
common share purchase warrant of the Company, each warrant entitling TDC to
acquire one common share at an exercise price of Cdn. $0.75 per share at any
time on or before June 30, 2006. The other half of the units of the Company
each consist of one common share and one common share purchase warrant of the
Company, each warrant entitling TDC to acquire one common share at an exercise
price of Cdn. $0.75 per share at any time on or before the earlier of 30 days
following the date that the Company gives TDC written notice (which notice
shall not be given before September 1, 2004) that TDC shall exercise the
warrants, and June 30, 2006.
Posted by GilbertZ at 12:34 PM
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