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Tag: TSXV:DMI

Diamcor Mining (TSXV:DMI) has announced that further to its news release of August 23, 2016 announcing a brokered private placement financing  of up to 4,545,455 units at a price of CDN$1.10 per Unit for gross proceeds of up to CDN$5,000,000, the has closed the offering with an oversubscription of 746,090 units resulting in the issuance of an aggregate 5,291,545 units for total gross subscription proceeds of CDN$5,820,700, with over 90 percent of the units being acquired by institutional investors

As quoted in the press release:

Each Unit consists of one common share (a "Share") of the Company, and one-half of one common share purchase warrant (a "Warrant").  Each whole Warrant will entitle the holder thereof to purchase one Share at an exercise price of CDN$1.60 until August 31, 2019.  The Shares and Warrants are subject to a hold period ending on January 1, 2017.

The Company also announces that, pursuant to the terms and conditions of an Agency Agreement between the Company and Echelon Wealth Partners Inc. ("Echelon"), the Company has paid an aggregate cash commission of CND$326,999.97 to Echelon, representing 6% of the gross proceeds received from subscribers introduced to the Company by Echelon.  In addition, the Company has issued an aggregate of 297,273 non-transferable warrants to Echelon (the "Echelon Broker Warrants"), representing 6% of the number of Units sold to subscribers introduced to the Company by Echelon.  Each Echelon Broker Warrant entitles the holder to purchase one Share of the Company at an exercise price of CDN$1.60 until August 31, 2019.  The Echelon Broker Warrants will also be subject to a hold period ending on January 1, 2017.

The Company further announces that, as part of a non-brokered portion of the Offering, the Company has paid to certain finders an aggregate cash commission of CDN$10,230, representing 6% of the gross proceeds received from subscribers introduced to the Company by such finders, and has issued an aggregate of 9,300 non-transferable warrants to such finders (the "Finder's Warrants"), representing 6% of the number of Units sold to subscribers introduced to the Company by such finders.  Each Finder's Warrant entitles the holder to purchase one Share of the Company at an exercise price of CDN$1.60 until August 31, 2019.  The Finder's Warrants will also be subject to a hold period ending on January 1, 2017.

Click here to read the full press release.

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Diamcor Closes $5,820,700 Private Placement

Diamcor Mining (TSXV:DMI) has announced that further to its news release of August 23, 2016 announcing a brokered private placement financing  of up to 4,545,455 units at a price of CDN$1.10 per Unit for gross proceeds of up to CDN$5,000,000, the has closed the offering with an oversubscription of 746,090 units resulting

Diamcor Announces Private Placement

Diamcor Mining (TSXV:DMI) has announced that it intends to complete a brokered private placement financing of up to 4,545,455 units at a price of $1.10 per unit for gross proceeds of up to $5 million.

As quoted in the press release:
Each Unit will consist of one common share (a “Share”) of

Diamcor Provides Update on Krone-Endora at Venetia Project Progress

Diamcor Mining (TSXV:DMI) has announced the advancement of the Krone-Endora at Venetia project is progressing with the completion of the first two of four additional boreholes associated with the Water Use License for the project.

As quoted in the press release:
The Company expects to finalize the two remaining boreholes prior to

Diamcor Mining Reports Revenue From Sale of Diamonds

Diamcor Mining Inc. (TSXV:DMI,OTCQX:DMIFF) reported results for its third fiscal quarter ended December 31, 2014: gross revenues of CDN $886,843 from 3,579.07 carats of rough diamonds compared to sales of 3,955 carats and gross revenues of CDN $1,396,591 for the same period ended December 31, 2013.

Diamcor Mining Inc. (TSXV:DMI) has begun additional expansion at its Krone-Endora at Venetia project following the $3.13 million private placement closed December 31 2014. The company anticipates that the expansion and upgrades at its facilities will be complete by the April quarter.

Furthermore, Tiffany & Co. Canada has agreed to a one year deferral and loan extensions relative to its financings with the company.

As quoted in the press release:

Due to the nature of the deposit, one of the primary objectives was the design and development of the Project’s in-field dry-screening plant necessary for the efficient removal of fine material under 1.0mm in size. As a result of extensive testing and development, the in-field dry-screening plant now meets the Company expectations, thus clearing the way for the acquisition and deployment of infrastructure necessary to effectively treat and process larger material in the +26.0mm size fractions which, to date, has been stockpiled. The upgrades underway are also designed to enhance efficiencies related to all sizes of material. Additional infrastructure upgrades include the upgrade and expansion of the Project’s X-ray final recovery systems, the installation of additional processing equipment to enhance the crushing and liberation of material in the noted larger size fractions and the deployment of larger heavy equipment.

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

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