TORONTO, ONTARIO--(Marketwired - Jan. 8, 2015) - Debut Diamonds Inc. (CSE:DDI) ("Debut") is pleased to announce that it successfully completed a $50,000 private placement (the "Private Placement"). An aggregate of 5,000,000 common shares ("Shares") were sold $0.01 per Unit.
The gross proceeds to Debut from the Private Placement will be used to fund exploration expenses which qualify as "Canadian Exploration Expenses" (within the meaning of the Income Tax Act (Canada)) in connection with Debut's projects in Ontario.
The Shares issued pursuant to the Private placement are subject to a four (4) month hold period expiring May 1, 2015.
About Debut Diamonds
Debut has both joint-ventured and wholly-owned diamond exploration properties that include the previously discovered MacFadyen and Good Friday kimberlite pipes contained in a claim block contiguous to the DeBeers claim block containing the Victor Diamond Mine and other prospective diamond bearing kimberlite pipes, west of James Bay on Ontario's Attawapiskat River. In addition, Debut has an interest in the diamond bearing Kyle kimberlite pipes about 100 kilometers to the west.
Shares issued and outstanding: 54,790,934