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Jan 14, 2008 : Diamonds North Announces Two More Kimberlites With High Diamond Counts... more...
Jan 08, 2008 : Diamonds North Recovers 550 Diamonds from 81.75 Kilograms of Tuktu-1 K... more...
Dec 13, 2007 : Siku Project Update more...
Dec 05, 2007 : Ualliq Project Update more...
Nov 30, 2007 : Diamonds North Completes Flow-Through Financing more...
Nov 30, 2007 : Diamond Market Conditions and Sakari Update more...
Nov 23, 2007 : Diamonds North Announces Flow-Through Financing more...
Oct 31, 2007 : New Nunavut Nickel Discovery more...
Oct 10, 2007 : Diamonds North Increases Kimberlite Tally to 22 on Amaruk more...
Sep 11, 2007 : Diamonds North Discovers 11 New Kimberlites on Amaruk more...
Aug 24, 2007 : Diamonds North Completes Flow-Through Financing more...
Aug 15, 2007 : Diamonds North Announces Flow-Through Financing more...
Jul 20, 2007 : Diamonds North Completes Banks Island Acquisition more...
Jul 19, 2007 : Diamonds North Announces Flow-Through Financing more...
Jul 11, 2007 : Diamonds North Provides Update on Hepburn more...
Jul 05, 2007 : Diamonds North acquires 100% interest in the Banks Island Project more...
May 24, 2007 : Diamonds North Expands Amaruk Exploration Program Bulk Samples & Drill... more...
Dec 04, 2006 : Uranium North Set To Close Financing And Commence To Trade more...
Nov 16, 2006 : Diamonds North Announces Closing of $7 Million Private Placement more...
Oct 26, 2006 : $6 Million "Bought Deal" Financing more...
Oct 12, 2006 : Diamonds North and Arctic Star to Explore in Canada's Newest Kimberlit... more...
Oct 05, 2006 : 19 New Kimberlite Float Occurrences on Amaruk Further Demonstrates the... more...
Sep 27, 2006 : Drill Targets Identified on the Ualliq property more...
Sep 20, 2006 : Diamonds North Increases Kimberlite Tally to Five Demonstrating Amaruk... more...
Aug 23, 2006 : Target Testing Underway at Amaruk -- New Kimberlite Discovered more...
Aug 15, 2006 : Shear Minerals and Diamonds North to Explore the Sakari property more...
Aug 02, 2006 : Diamonds North and International Samuel to Explore the Ualliq property more...
Aug 01, 2006 : Diamonds North Closes Plan of Arrangement for Shareholders to Receive ... more...
Jul 19, 2006 : Diamonds North sets Effective Date for Shareholders to Receive Uranium... more...
Jul 17, 2006 : Pathfinder Starts Major Airborne Geophysical Survey at Thelon Basin Ur... more...
Jul 14, 2006 : Diamonds North Grants Options more...
Jul 13, 2006 : Diamonds North To Drill The Amaruk Project more...
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2006 | 2005 | 2004 | 2003 | 2002
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Thu Nov 16, 2006
Diamonds North Announces Closing of $7 Million Private Placement
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News Release: 06-34
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
VANCOUVER, November 16, 2006 - Diamonds North Resources Ltd. (DDN-TSX Venture) (the "Company" or "Diamonds North") announces that it has closed its brokered private placement of 7,368,422 flow-through common shares of the Company at a price of $0.95 per share for aggregate gross proceeds of $7,000,000 (the "Offering"). Clarus Securities Inc. acted as lead underwriter, with a syndicate that included Loewen, Ondaatje, McCutcheon Limited and Raymond James Ltd. (the "Underwriters"). The Offering includes shares issued pursuant to the exercise of an over allotment option granted to the Underwriters.
In connection with the Offering, the Underwriters have been paid a 7% cash commission. In addition, the Underwriters were issued brokers warrants entitling them to purchase up to 515,789 non-flow through common shares for a price of $0.85 per share, expiring February 16th, 2008.
All securities issued pursuant to the private placement are subject to a hold period and may not be traded until March 17, 2007.
Diamonds North plans to use the net proceeds of this financing primarily to fund the exploration drill programs on its core diamond projects including the Amaruk project. The Company recently announced (September 20, 2006) the first 5 kimberlites drilled on the Amaruk project and is planning an aggressive target testing program. Immediate plans include formalizing budgets and contracts to secure drill rigs and helicopters for this exploration program.
Diamonds North is a dynamic exploration team focused on strategically advancing diamond opportunities and is determined to discover Canada's next diamond mine.
ON BEHALF OF THE BOARD OF DIRECTORS
Mark Kolebaba
President & CEO
For further information, please contact:
Diamonds North Resources Ltd.
Corporate Communications: Nancy Curry
Telephone:
Facsimile:
Website: diamondsnorthresources.com
Email:
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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You can view the Next News Releases 2006 item: Mon Dec 4, 2006, Uranium North Set To Close Financing And Commence To Trade
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