Diamcor Mining has closed a second and final tranche of CND$600,300 ($440,637) of its non-brokered private placement, bringing the total of the offering to just above CND$2 million ($1.5 million).
The first tranche of the offering recorded a gross of more than C$1.4 million ($1 million).
Diamcor said it will issue 40,1 million units from the offering for 5 Canadian cents and one non-transferable share purchase warrant.
Proceeds from the offering will be used for the continued advancement of the company’s Krone-Endora at Venetia Project in South Africa.
It will also be used for the work programmes currently underway, the efforts surrounding drilling and bulk sampling on the greater portions of the Venetia Project, the advancement of discussions on potential acquisitions of additional opportunities aimed at increasing long-term shareholder value and added growth, and general corporate purposes.
Meanwhile, Diamcor said it would continue to advance ongoing discussions with financiers and industry-related parties on additional funding scenarios, which may be beneficial in further supporting the above-noted objectives aimed at increasing long-term shareholder value and added growth.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
