Published on 7/7/2008 in the Prospect News PIPE Daily.
New Issue: Diamonds North settles C$15.47 million placements of units, stock
By Devika Patel
Knoxville, Tenn., July 7 - Diamonds North Resources Ltd. said it took in C$12.53 million in a bought-deal private placement of units and shares. The company also closed the first tranche of a non-brokered deal for C$2.95 million.
The company sold 3,833,600 units of one common share and one half-share warrant at C$1.05 apiece for C$4.03 million.
Each whole warrant will be exercisable at C$1.30 for one year.
Diamonds North also sold 7,083,700 flow-through shares C$1.20 apiece for C$8.5 million.
The financing was conducted by a syndicate led by Canaccord Capital Corp. and including Dundee Securities Corp., GMP Securities LP and Haywood Securities Inc.
In the non-brokered tranche, the company sold 1,391,666 flow-through shares and 1,216,000 units.
Proceeds will be used for exploration, the advancement of the company's mineral assets and for general working capital purposes.
Diamonds North is a diamond exploration company based in Vancouver, B.C.
| Issuer: | Diamonds North Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant, flow-through shares
|
| Settlement date: | July 7
|
| Stock symbol: | TSX Venture: DDN
|
| Stock price: | C$1.10 at close July 7
|
|
|
| Brokered deal
|
| Amount: | C$12,525,720
|
| Agent: | Canaccord Capital Corp. (lead), Dundee Securities Corp., GMP Securities LP and Haywood Securities Inc.
|
|
|
| Units
|
| Amount: | C$4,025,280
|
| Units: | 3,833,600
|
| Price: | C$1.05
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$1.30
|
|
|
| Flow-through shares
|
| Amount: | C$8,500,440
|
| Shares: | 7,083,700
|
| Price: | C$1.20
|
|
|
| Non-brokered deal
|
| Amount: | C$2,946,799.20
|
| Agent: | Non-brokered
|
|
|
| Units
|
| Amount: | C$1,276,800
|
| Units: | 1,216,000
|
| Price: | C$1.05
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$1.30
|
|
|
| Flow-through shares
|
| Amount: | C$1,669,999.20
|
| Shares: | 1,391,666
|
| Price: | C$1.20
|
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