Damara Gold Ord Shs V.DMR

Diamcor Mining Inc - News Release

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Diamcor Mining Inc - News Release Diamcor Mining arranges $1.1-million financing Diamcor Mining Inc DMR Shares issued 14,040,059 Jun 17 2002 close $.620 Monday Jun 17 2002 News Release Mr. Wayne Wolf reports Diamcor Mining has arranged a private placement of up to 3,548,387 units to one placee at a price of 31 cents per unit. The company intends to file an annual information form pursuant to Multilateral Instrument 45-102 so that the securities will be subject to a four-month hold period from the date of payment of the units. Proceeds from the private placement will be used for exploration on the company's So Ver mine located in the Kimberly area of South Africa and general working capital. Each unit in the private placement will consist of one common share in the capital stock of the company and one non-transferable share purchase warrant. Each warrant will entitle the holder to purchase one additional common share for a term of two years from the date the payment for the units is received by the company, at a price of 41 cents per share. In addition, the company proposes to pay a finder's fee to Robert Fedun in the amount of $110,000, to be paid by the issuance of 354,838 common shares at a price of 31 cents per share, in consideration of Mr. Fedun arranging the private placement. The private placement and the finder's fee are subject to regulatory acceptance. (c) Copyright 2002 Canjex Publishing Ltd. https://www.canada-stockwatch.com old url (better for printing) Detailed Quote DIAMCOR MINING INC