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Diamcor Mining Inc. raises $3 million
The Company arranged private placement financing of 2,142,858 units at a price of $1.40 per
By: Diamond World News Service
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Mar 7 2014 5:52PM
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Reference: 8920  

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Diamcor Mining Inc. recently announced that it has arranged private placement financing of 2,142,858 units at a price of $1.40 per unit for gross proceeds of $3,000,001.20. Each unit consists of one common share and one half of one common share purchase warrant. Each whole warrant has a 3 year term and entitles the holder to purchase one share at an exercise price of $1.80.

Diamcor engaged Roth Capital Partners as the lead agent and Euro Pacific Canada Inc. for the Offering. Participants in the offering were largely institutional investment firms and the offering is expected to close on or before March 7, 2014, subject to regulatory approvals. Proceeds will be used to support the advancement of the company's Krone-Endora at Venetia project and South Africa and for general and administrative purposes.

The Company has a well-established prior operational and production history in South Africa, extensive prior experience supplying rough diamonds to the world market, and has established a long-term strategic alliance with Tiffany & Co.

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