BRC DiamondCore Ltd. Closes Financing
11.05.2011 | CNW
TORONTO, May 11 - BRC DiamondCore Ltd. (the 'Company') (TSX: BCD) (JSE: BCD) announces that, further to its May 4, 2011 press release, it has closed a non-brokered private placement of 7,500,000 units of the Company at a price of Cdn$0.08 per unit for proceeds to the Company of Cdn$600,000. Each such unit is comprised of one common share of the Company and one warrant of the Company, with each such warrant entitling the holder to purchase one common share of the Company at a price of Cdn$0.11 for a period of three years. The Company intends to use the proceeds from this financing for general corporate purposes.BRC DiamondCore Ltd. is an African-focused diamond explorer with projects in the Democratic Republic of the Congo. Led by a management team with extensive experience in diamond exploration and mine development, the Company works in a systematic and responsible manner to discover, assess and develop diamond resources for the benefit of its shareholders and local stakeholders.
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please visit our website, www.brc-diamondcore.com, or contact:
In Toronto: Arnold T. Kondrat, Director, (416) 366-2221 or 1-800-714-7938.
In Johannesburg: Brian P. Scallan, Vice President, Finance, +27 82 902 6273 or +243 991772978.