Bottin (International) Investments Ltd. Announces Further Investment in Kennady Diamonds Inc.
15.08.2017 | CNW
GIBRALTAR, Aug. 14, 2017 - Bottin (International) Investments Ltd. ("Bottin"), of 57/63 Line Wall Road, Gibraltar today announced that Bottin has acquired an aggregate of 1,139,900 common shares of Kennady Diamonds Inc. ("Kennady") (TSXV: KDI) since May 17, 2017 for aggregate consideration of $3,987,691. The acquisitions have been made in several transactions on the TSX Venture Exchange on different dates since May 17, the date of the last early warning report filed by Bottin.The aggregate purchases since May 17, 2017 represents approximately 2.24% of the 50,867,933 issued and outstanding shares of Kennady. Bottin, together with its ultimate beneficial owner Mr. Dermot Desmond, is required under National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues to issue a news release and file an early warning report for each 2% change in its ownership of common shares of Kennady since the filing of its last report.
The shares have been acquired for investment purposes. Bottin is a private limited company based in Gibraltar. Mr. Desmond is the ultimate beneficial owner of Bottin.
On May 17, 2017 Bottin and Mr. Desmond together held 12,826,468 shares of Kennady, representing 25.3% of the 50,775,266 issued and outstanding common shares of Kennady. Following the purchase of 130,000 common shares of Kennady on the TSX Venture Exchange on August 9 and 10, 2017, Mr. Desmond and Bottin together hold 13,966,368 common shares of Kennady, representing approximately 27.46% of the 50,867,933 issued and outstanding common shares of Kennady.
Bottin has filed an early warning report on SEDAR. A copy of the report may be obtained from Jaime Knight, tel. 011 350 200 79000.
About Kennady Diamonds
Kennady Diamonds Inc. controls 100 percent of the Kennady North diamond project located in Canada's Northwest Territories. Kennady North is adjacent to the Gahcho Kué Diamond Mine, a joint venture between De Beers Canada (51%) and Mountain Province (49%), which achieved started production in late 2016. Kennady is focused on expanding its high-grade diamond resources along the Kelvin – Faraday kimberlite corridor, as well identifying new kimberlites outside of the corridor. To date an indicated resource of 13.62 million carats of diamonds contained in 8.50 million tonnes of kimberlite, with a grade of 1.60 carats per tonne and an average value of US$63 per carat has been defined for the Kelvin kimberlite using a 1mm diamond bottom cutoff size. The Kelvin – Faraday corridor is also a target for further exploration.
BOTTIN (INTERNATIONAL) INVESTMENTS LTD.
"Cheam Directors Limited"
Per: Cheam Directors Limited Director
/NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS/
SOURCE Kennady Diamonds Inc.
Contact
please contact: Bottin (International) Investments Ltd.
Jaime.knight@linegroup.gi