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News Releases |
| | June 26, 2009
DIX Announces Update to Private Placement
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| | Press Release - #09-10
OTTAWA ONTARIO -- Diamond Exploration Inc. (TSXV -- DIX) is providing an update to its press release of June 23, 2009 announcing a private placement in an aggregate amount of $327,000. MineralFields Group has decided to purchase 550,000 flow-through units at a price of $0.10 per unit rather than the anticipated 750,000. This decision was made by MineralFields Group in light of its previous investments in the Company and to remain in compliance with its own internal policies surrounding ownership of publicly traded companies. The private placement remains as previously disclosed with regards to the number of securities being issued and the aggregate gross proceeds to the Company.
In light of the reduced subscription by MineralFields, the finder's fee payable by the Company to First Canadian Securities® is reduced from $3,750 to $2,750, which represents 5% of the gross proceeds received by the Company from the sale of 550,000 units. In addition, the number of non-flow-through finder's options to be issued by the will be reduced from 75,000 to 55,000.
For further information, please contact:
Robin Dow
1-888-834-7708
e-mail: robin@dowgroup.ca
Bay Street Connect:
Gus Garisto
1-416-607-6023
e-mail: gus@baystreetconnect.com
This news release is not for distribution to United States newswire services or for dissemination in the United States.
This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the closing of the proposed private placement and the anticipated business and financing plans of the Company. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the market for diamonds or other minerals that may be produced generally, recent market volatility; variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's ability to obtain any necessary permits, consents or authorizations required for its activities, to raise the necessary capital or to be fully able to implement its business strategies and other risks associated with the exploration and development of mineral properties. The reader is referred to the Company's most recent annual and interim Management's Discussion and Analysis for a more complete discussion of such risk factors and their potential effects, copies of which may be accessed through the Company's website www.diamondexplorationinc.com |
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