By Devika Patel
Knoxville, Tenn., May 29 - Dianor Resources Inc. announced it took in C$356,480 in the first tranche of a C$1 million private placement of units.
The company sold 3,564,800 units at C$0.10 apiece. Each unit consists of one common share and one warrant. Each warrant is exercisable at C$0.15 until May 27, 2010 and at C$0.20 from May 28, 2010 until May 27, 2011
Dundee Securities Corp. is the agent.
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 f one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 10 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant strike price: | C$0.15 until May 27, 2010, C$0.20 thereafter
|
| Warrant expiration: | May 27, 2011
|
| Agent: | Dundee Securities Corp.
|
| Settlement date: | May 29 (for C$356,480)
|
| Stock symbol: | TSX Venture: DOR
|
| Stock price: | C$0.09 at close May 28
|
| Market capitalization: | C$14.9 million
|
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