Dianor Resources has entered into a standby equity distribution agreementfor its Wawa diamond exploration project in northeasternOntario.
TheVal d'Or-based junior miner signed a $30-million deal with Kodiak Capital GroupLLC.
TheTSX Venture Exchange has accepted the terms of the equity line of credit. Dianorexpects to file a preliminary short form base shelf prospectus with the CanadianSecurities Commission. If the prospectus is approved, Dianor will have to file aprospectus supplement each time that it draws down funds under the equity lineof credit.
Dianor will use the funds to advance bulk sampling of its LeadbetterDiamond Project, the company's flagship project.
Dianor will issue 250,000 shares to Kodiak in consideration for theequity line of credit. The shares will be issued at the time of the first drawdown of funds by Dianor, subject to certain conditions.
https://www.northernontariobusiness.com/Around-the-North/100723/Wawa-diamond-diggers-hit-New-York-motherlode.aspx
Small, and heard before, but anything that surfaces the media is good!
GLTA