By Sheri Kasprzak
Atlanta, May 2 - Diamondex Resources Ltd. said it plans to raise C$6,795,000 in a private placement.
The offering includes 7.55 million units at C$0.90 each sold to Barrick Gold Corp.
The units are comprised of one share and one warrant. The warrants provide for an additional share at C$1.25 each for two years.
Following the closing of the deal, Barrick will own 11% of Diamondex's shares or 19.8% of its shares on a partially diluted basis.
In a second tranche, Barrick will buy an additional 3,561,111 units under the same terms. Tell Investments LLP will also participate in the second tranche for 1.7 million units under the same terms.
Based in Vancouver, B.C., Diamondex is a diamond exploration company. It plans to use the proceeds for diamond exploration and acquisitions.
| Issuer: | Diamondex Resources Ltd.
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| Issue: | Units of one share and one warrant
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| Amount: | C$6,795,000
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| Units: | 7.55 million
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| Price: | C$0.90
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$1.25
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| Investor: | Barrick Gold Corp.
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| Pricing date: | May 2
|
| Stock price: | C$0.90 at close May 2
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