Diamondex Resources plans C$10 million placement of shares

By Laura Lutz

Des Moines, June 11 - Diamondex Resources Ltd. negotiated a private placement of shares for C$10 million.

The company plans to sell both non flow-through and flow-through shares. The prices have not been set.

Genuity Capital Markets will lead a syndicate of agents that also includes Toll Cross Securities Inc. and Versant Partners Inc.

The agents have a greenshoe for up to 15% of the deal size.

Settlement is expected by June 28.

Proceeds will be used for property acquisitions and exploration, working capital and general corporate purposes.

Diamondex is a resource exploration company based in Vancouver, B.C. On Friday, its stock closed down 1 cent, or 3.23%, at C$0.30 (TSX Venture: DSP).

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