By Sheri Kasprzak
Atlanta, Nov. 18 - Diadem Resources Ltd. said Thursday it has sold C$1.6 million in a non-brokered private placement.
The company sold 10,666,666 units of one flow-through common share and one half of one flow-through common share warrant at C$0.15 per unit.
The whole warrants allow for the purchase of an additional flow-through common share at C$0.20 per share for nine months.
The deal is expected to close Dec. 22.
Toronto-based Diadem is a diamond, gold and silver exploration company.
| Issuer: | Diadem Resources Ltd.
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| Issue: | Units of one flow-through common share and one half flow-through common share warrant
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| Amount: | C$1.6 million
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| Shares: | 10,666,666 units
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| Price: | C$0.15
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| Warrants: | One half warrant per unit
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| Warrant expiration: | Nine months
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| Warrant strike price: | C$0.20
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| Pricing date: | Nov. 18
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| Stock price: | C$0.14 at close Nov. 18
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