Harry Winston to raise $75M in PPHarry Winston Diamond To Sell 3M Shares At C$25 Each
09:10 EDT Monday, March 10, 2008
DOW JONES NEWSWIRES
Harry Winston Diamond Corp. (HWD) plans a non-brokered private-placement offering of 3 million shares at C$25 each to raise C$75 million (US$76 million).
Following the offering, the company said it will have 61,372,091 shares outstanding.
Closing is expected on or before March 14.
Proceeds will be used to help fund Harry Winston's portion of the underground mine plan at the Diavik Diamond Mine.
The company also said it recently completed a separate US$250 million five- year credit facility to self support the retail division's operations and future salon expansion.
Harry Winston, Toronto, is a diamond company.
-Judy McKinnon; 416-306-2100; AskNewswires@dowjones.com