By Devika Patel
Knoxville, Tenn., Sept. 17 - Dianor Resources Inc. announced that it has closed the second tranche of a C$3.5 million private placement of units, taking in C$424,999. So far, Dianor has raised C$3,424,999 in this private placement, after an earlier tranche of C$3 million.
In the latest tranche, Dianor issued 708,331 units at C$0.60 per unit. Each unit consists of one common share and one half-share warrant. Each full warrant is exercisable for one common share at C$0.90 for one year.
The securities have a four-month hold period.
Dianor paid a C$180,000 finder's fee to Desjardins Securities Inc., representing 6% of the proceeds raised.
Proceeds will be used for exploration on Dianor's properties in Quebec and Ontario and for general corporate and working capital purposes.
Based in Val d'Or, Quebec, Dianor is a diamond exploration company.
| Issuer: | Dianor Resources Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$424,999 (second tranche); C$3.5 million (total)
|
| Units: | 708,331 (second tranche)
|
| Price: | C$0.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.90
|
| Settlement date: | Sept. 17
|
| Stock symbol: | TSX Venture: DOR
|
| Stock price: | C$0.57 at close Sept. 14
|
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