By Sheri Kasprzak
New York, March 16 - European Diamonds plc said it has concluded a £1,335,000 private placement.
The company sold 5.34 million shares at 25p each.
The investors will also receive warrants for 5.34 million shares, exercisable at 30p each through March 15, 2008.
Proceeds will be used for exploration on the company's properties in Finland and Lesotho. The rest will be used for working capital.
Based in London, European Diamonds is a diamond exploration company.
| Issuer: | European Diamonds plc
|
| Issue: | Stock
|
| Amount: | £1,335,000
|
| Shares: | 5.34 million
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| Price: | 25p
|
| Warrants: | For 5.34 million shares
|
| Warrant expiration: | March 15, 2008
|
| Warrant strike price: | 30p
|
| Settlement date: | March 16
|
| Stock symbol: | London: EPD
|
| Stock price: | 21p at close March 15
|
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