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Re: News Releases 2009 - Tuesday, June 15, 2010
Diamonds North Announces Flow-Through Financing
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Not for dissemination in the United States or through U.S. newswires
VANCOUVER, June 15, 2010 -- Diamonds North Resources Ltd. (TSX-V: DDN)
announces that it intends to complete a non-brokered private placement
to raise up to $1,000,000 through the sale of flow-through shares. The
flow-through shares will comprise up to 5,000,000 shares at $0.20 per
share (the "Offering"). The placement is to finance the Company's
diamond and gold programs on the 100% owned Amaruk property in Nunavut.
Finders Warrants may be payable on a portion of the placement. The
Finders Warrants will entitle the holder to purchase that number of non
flow-through common shares which is equal to 7% of the number of
Flow-Through Shares sold by the Finders. The Finders Warrants will
expire twelve months after the closing of the Offering. The exercise
price for the Finders Warrants will be $0.25 per common share.
This private placement is subject to regulatory approval.
About Diamonds North
Diamonds North Resources is rapidly evolving and committed to building
long-term value for shareholders through ongoing discoveries and
leveraging business opportunities from our vast land holding.
On behalf of Diamonds North Resources Ltd.
Mark Kolebaba
President & CEO
For additional information please contact:
Troy Shultz
Corporate Communications
Diamonds North Resources Ltd.
Telephone: (604) 689-2010
Facsimile: (604) 484-7143
Email: info@diamondsnorth.com
Website: www.diamondsnorth.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. Statements
in this press release, other than purely historical information,
including statements relating to the Company's future plans and
objectives or expected results, may include forward-looking statements.
Forward-looking statements are based on numerous assumptions and are
subject to all of the risks and uncertainties inherent in resource
exploration and development. As a result, actual results may vary
materially from those described in the forward-looking statements.
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Copyright (c) 2010 DIAMONDS NORTH RESOURCES LTD. (DDN) All rights
reserved. For more information visit our website at
http://www.diamondsnorth.com/ or send mailto:info@diamondsnorth.com
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Diamonds North Resources Ltd
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EXPLORATION STAGE |
CODE : DDN.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Diamonds North is a diamonds exploration company based in Canada. Diamonds North holds various exploration projects in Canada. Its main exploration properties are SIKU, BANKS ISLAND, UALLIQ and VICTORIA ISLAND in Canada. Diamonds North is listed in Canada and in United States of America. Its market capitalisation is CA$ 1.9 millions as of today (US$ 1.8 millions, € 1.4 millions). Its stock quote reached its highest recent level on January 11, 2008 at CA$ 2.07, and its lowest recent point on February 15, 2013 at CA$ 0.02. Diamonds North has 94 682 000 shares outstanding. |