By Devika Patel
Knoxville, Tenn., July 16 - Firestone Diamonds plc announced it raised £5 million in a private placement of shares.
The company sold 5,882,353 ordinary shares at 85p per share.
Proceeds will be used to accelerate evaluation work at the company's BK11, BK16 and Tsabong projects in Botswana.
Leeds, England-based Firestone is a diamond mining and exploration company with operations in South Africa and Botswana.
| Issuer: | Firestone Diamonds plc
|
| Issue: | Ordinary shares
|
| Amount: | £5 million
|
| Shares: | 5,882,353
|
| Price: | 85p
|
| Warrants: | No
|
| Settlement date: | July 16
|
| Stock symbol: | London: FDI
|
| Stock price: | 90.8p at close July 15
|
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