By Sheri Kasprzak
Atlanta, June 6 - Diamond Fields International Ltd. said it has completed an upsized private placement for C$2.5 million.
The company sold a total of 10 million units at C$0.25 each.
The units include one share and one half-share warrant. The full warrants provide for an additional share at C$0.40 each before June 2, 2008. The expiry of the warrants may be accelerated to 30 days if the company's stock trades above C$1.20 per share during any 20 consecutive trading days 18 months after issuance.
The deal was first announced May 17 as a C$2 million offering of 8 million units under the same terms.
Haywood Securities Inc. was the placement agent.
Founder Jean-Raymond Boulle and four directors and officer of the company bought 1.31 million units of the deal.
Based in Vancouver, B.C., Diamond Fields is a diamond exploration and mining company.
| Issuer: | Diamond Fields International Ltd.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$2.5 million
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| Units: | 10 million
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| Price: | C$0.25
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | June 2, 2008
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| Warrant strike price: | C$0.40
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| Placement agent: | Haywood Securities Inc.
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| Settlement date: | June 6
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| Stock price: | C$0.40 at close June 6
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