Diamcor seeks to extend closing of second tranche of revised private placement
Diamond mining company Diamcor Mining is seeking to extend the closing of the second tranche of its non-brokered revised private placement following its announcement on June 4 that it has closed the first tranche.
The company previously indicated that the original offering, announced on May 1, would be oversubscribed. Diamcor is therefore seeking additional time to accommodate and finalise the documentation and related required items for several additional interested investors.
The second and final tranche of the offering is now expected to close on or before June 27.
As previously announced, the first tranche consisted of 28.12-million units at a price of C$0.05 each for proceeds of about C$1.4-million. Each unit consists of one class A common share in the authorised capital of the company and one non-transferable share purchase warrant.
Each warrant will entitle the holder to acquire one additional class A common share at an exercise price of C$0.075 for a period of 36 months following the close of the first tranche.
Proceeds from the offering will be used for the continued advancement of the company’s Krone-Endora at Venetia project, the work programmes currently under way, the announced efforts surrounding drilling and bulk sampling on the greater portions of the project, the advancement of discussions on potential acquisitions of additional opportunities aimed at increasing long-term shareholder value and added growth, and for general corporate purposes.
Diamcor said on June 19 that it also plans to continue to advance ongoing discussions with financiers and industry-related parties on additional funding scenarios which may be beneficial in further supporting these objectives.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
