By Laura Lutz
Des Moines, July 24 - Diagem Inc. raised C$1.7 million from a loan financing and share placement with seven lenders.
The investors received 5.1 million common shares at a deemed value of C$0.066 per share in partial consideration for the loans.
The loans are unsecured, bear interest at 10% per year and mature on Dec. 31.
Proceeds will be used for exploration and working capital.
Diagem is a mining company based in Montreal.
| Issuer: | Diagem Inc.
|
| Issue: | Loan with common shares
|
| Amount: | C$1.7 million
|
| Maturity: | Dec. 31, 2007
|
| Interest: | 10%
|
| Price: | Par
|
| Shares: | 5.1 million
|
| Warrants: | No
|
| Settlement date: | July 24
|
| Stock symbol: | TSX Venture: DGM
|
| Stock price: | C$0.07 at close July 24
|
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