Tiffany& Co. Provides Diamcor Mining Inc. with an Additional $4 Million in Financing

Diamcor Mining Inc. (TSXV:DMI) announced an additional $4.0 million financing from its strategic alliance partner Tiffany&Co. The term loan has a fixed interest rate of 9%.

As quoted in the press release:

The $4,000,000 in financing will be provided by Tiffany’s subsidiary, Tiffany & Co. Canada, via a $2,400,000 term loan (the “Term Loan”) and a $1,600,000 convertible debt debenture (the “Convertible Debenture”). The transaction is subject to final acceptance by the TSX Venture Exchange.

Diamcor, President and CEO, Dean H.Taylor commented:

We are very pleased with the continued support of our strategic alliance partner Tiffany and Co. and their willingness to support our expansion plans. We believe deploying this additional equipment now will allow us to further enhance results which are already meeting or exceeding our expectations, and provide us with the ability to expedite our overall goals and targets for the long-term.

Click here to read the Diamcor Mining Inc. (TSXV:DMI) press release

See this press release on Marketwire
Click here to see the Diamcor Mining Inc. (TSXV:DMI) profile

Get the Latest Diamond Investing Stock Information

Get the latest information about companies associated with Diamond Investing delivered directly to your inbox.

Diamond

Select All Select None

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

Ag-CoverGet our expert guide to diamond investing FREE! Download this FREE Special Report, Investing in Stornoway Diamonds or Other Canadian Diamond Mines – Beyond the Diamond Price Calculator.
Comments

Leave a Reply