TSX.V Symbol (DMI)
KELOWNA, BC, May 2, 2013 /PRNewswire/ - Diamcor Mining Inc. (TSX-V.DMI), an emerging producer of rough diamonds, has engaged the Liolios Group,
Inc. to lead a new investor relations and financial communications
program.
"Over the past 24 months, we have successfully completed the extensive
infrastructure and capital upgrades for our planned transition to
full-scale production of quality rough diamonds at our Krone-Endora at
Venetia project which is located directly adjacent to De Beers'
flagship Venetia diamond mine in South Africa," said Dean Taylor,
president and CEO of Diamcor. "We have also established a strategic
alliance with Tiffany & Co., a name synonymous with the highest quality
of diamonds and jewelry, and who operates more than 275 stores and
boutiques around the world."
"With our first sale of diamonds completed at the end of 2012, we've
demonstrated that Diamcor is one of the very few companies in the world
with the potential for near-term sustained production of quality rough
diamonds," continued Taylor. "Given this progress, and in conjunction
with our planned transition to 24/7 operations, we've arrived at an
important inflection point in our development where we believe our
shareholders would benefit from an experienced team of investor
relations professionals to help us communicate our story to the
financial community."
Liolios Group brings to Diamcor a proven track record of helping
companies build shareholder value by delivering the right message to
the right audience and establishing high quality, long-term
relationships in the investment community. They will work closely with
Diamcor's management to refine and deliver the Company's message, and
assist the Company in scheduling road shows and financial conferences
over the next several months.
To arrange for a call or meeting with management, contact Justin Vaicek
at Liolios Group: Tel (949) 574-3860 or DMI@liolios.com
Terms of Engagement
During the term of the agreement, Liolios Group will collaborate with
Company management on a non-exclusive basis to provide services which
will include, but not be limited to, the development, implementation
and maintenance of an on-going stock market support system aimed at
increasing investor awareness of the Company's activities and to
stimulate investor awareness in the Company. Liolios Group will
disseminate public information about the Company to key investment
professionals and private parties, and as well to Liolios's existing
database of business associates and investment professionals in both
the United States of America and Canada. In addition to the ongoing
communication and introduction of the company to key members of the
financial brokerage and investment community, they will conduct
periodic conference calls, identify investor conferences which may be
of interest to the Company, and arrange group or individual meetings
with portfolio managers, analysts, stockbrokers, and other investment
professionals.
The initial term of the agreement with Liolios Group shall commence on
May 1, 2013 for a period of six months, and shall thereafter be
automatically renewed for an additional six month period unless either
party shall notify the other in writing of its intention not to renew,
which notice shall be given at least 30 days in advance. As
compensation for the services provided for under the agreement, the
Company agrees to pay fees of US $5,000 per month for the first two
months of the initial term to Liolios, and US $6,000 per month for the
remaining four months of the initial term and for any subsequent
renewal month. As additional incentive compensation for the services
rendered during the term, the Company has also granted Liolios Group
options to purchase up to 150,000 Company common shares at a price of
$1.50 per share. The options will vest in accordance with the TSX
Venture Exchange vesting requirements as follows: 37,500 options may be
exercised on August 1, 2013, 37,500 options may be exercised on
November 1, 2013, and subject to the terms of the agreement and the
renewal provision, 37,500 options may be exercised on February 1, 2014,
and the final 37,500 options may be exercised on May 1, 2014. All
options will expire three years from the date of issue, and all options
exercised will be subject to the required hold periods pursuant to
applicable securities laws and TSX Venture Exchange policies. The
Liolios Group's engagement is subject to acceptance by the TSX Venture
Exchange.
Liolios Group does not hold any securities of the Company nor does it
have any direct or indirect interest in the Company. Liolios Group and
its principals do not engage in market making activities and the firm
will restrict its services to public relations and investor relations
consulting.
About Liolios Group
Liolios Group is a highly selective and comprehensive investor relations
firm specializing in micro to mid-cap companies. The firm aims to
deliver superior performance in corporate messaging and positioning,
investor awareness, analyst and financial press coverage and capital
attraction. Founded in 1999 by J. Scott Liolios, Liolios Group
executives have extensive experience in financial and investments and
represent clients in a wide range of industries, including life
sciences/healthcare, consumer/internet retail, business services,
digital, media/software, clean technology, technology, natural
resources and special situations. For more information about Liolios
Group, visit www.liolios.com.
About Diamcor Mining Inc.
Diamcor Mining Inc. is a fully reporting publically traded junior
diamond mining company which is listed on the TSX Venture Exchange
under the symbol V.DMI, and on the OTC QX International under the
symbol DMIFF. The Company has a well-established operational and
production history in South Africa, extensive experience supplying
rough diamonds to the world market, and has established a long-term
strategic alliance with world famous Tiffany & Co. Rather than
exposing itself to the high risks and costs associated with
exploration, the Company's focus is on the identification, acquisition,
and operation of unique diamond projects with near-term production
potential such as the Krone-Endora at Venetia Project. For additional
information on Diamcor, please visit our website at www.diamcormining.com.
About the Tiffany & Co. Alliance
As announced on March 29, 2011, the Company has established a long-term
strategic alliance and first right of refusal with Tiffany & Co.
Canada, a subsidiary of world famous New York based Tiffany & Co., to
purchase up to 100% of the future production of rough diamonds from the
Krone-Endora at Venetia Project at then current prices to be determined
by the parties on an ongoing basis. In conjunction with this first
right of refusal, Tiffany & Co. Canada also provided the Company with
substantial financing to advance the Project as quickly as possible.
Tiffany & Co. is a publically traded company which is listed on the New
York Stock Exchange under the symbol TIF. Founded in 1837, the Tiffany
name is now globally recognised as one of the premier luxury jewellery
and specialty retailers in the world. Through Tiffany & Co. and various
other subsidiaries, the company is engaged in product design,
manufacturing, and retailing activities on a global basis. As of
January 2013, Tiffany & Co. operated 275 stores and boutiques in the
Americas, Japan, Asia-Pacific, Europe and the United Arab Emirates, and
also engages in direct selling through internet, catalog and business
gift operations. For additional information on Tiffany & Co., please
visit their website at www.tiffany.com.
About Krone-Endora at Venetia
In February 2011, Diamcor acquired the Krone-Endora at Venetia Project
from De Beers Consolidated Mines Limited, consisting of the prospecting
rights over the farms Krone 104 and Endora 66, which represent a
combined surface area of approximately 5,888 hectares directly adjacent
to De Beers' flagship Venetia Diamond Mine in South Africa. De Beers
previously completed various exploration efforts on initial areas of
interest comprised of approximately 307 hectares, a summary of which
was reported in an initial Independent NI 43-101 Technical Report filed
by the Company on July 30, 2009. The deposits which occur on the
properties of Krone and Endora have been identified as a rare,
higher-grade "Alluvial" basal deposit which is covered by a lower-grade
upper "Eluvial" deposit. The deposits are proposed to be the result of
the direct-shift (in respect to the "Eluvial" deposit) and erosion (in
respect to the "Alluvial" deposit) of an estimated combined 1,000 m (1
km) of material from the higher grounds of the adjacent Venetia
Kimberlite areas. The deposits on Krone-Endora occur in two layers with
an average total depth of less than 15.0 metres from surface to
bedrock, allowing for a very low-cost mining operation to be employed
with the potential for near-term diamond production from a known
high-quality source. Krone-Endora also benefits from the significant
development of infrastructure and services already in place due to its
location directly adjacent to the Venetia Mine. Since acquiring
Krone-Endora the Company has completed the construction and
installation of extensive infrastructure at the Project, along with the
installation of a purpose built modular processing plant, and extensive
quarrying and in-field screening operations. Commissioning of the
processing plant is now complete, and the Company's current efforts are
designed to be a continuation of the ongoing advancement of the
Project, and as part of the Company's final preparations in
anticipation of a planned move to 24/7 operations in the near future.
On behalf of the Board of Directors
Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
DTaylor@diamcormining.com
Tel (250) 864-3326
www.diamcormining.com
Investor Relations Contact:
Justin Vaicek
Liolios Group, Inc.
DMI@liolios.com
Tel (949) 574-3860
This press release contains certain forward-looking statements. While
these forward-looking statements represent our best current judgement,
they are subject to a variety of risks and uncertainties that are
beyond the Company's ability to control or predict and which could
cause actual events or results to differ materially from those
anticipated in such forward-looking statements. Further, the Company
expressly disclaims any obligation to update any forward looking
statements. Accordingly, readers should not place undue reliance on
forward-looking statements.
WE SEEK SAFE HARBOUR
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE Diamcor Mining Inc.