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Dianor Resources Inc. (TSX VENTURE:DOR) reported that the company has entered into a Standby Equity Distribution Agreement with Kodiak Capital Group, LLC of New York for a $30 million equity line of credit.
Dianor Resources Inc. (TSX VENTURE:DOR) reported that the company has entered into a Standby Equity Distribution Agreement with Kodiak Capital Group, LLC of New York for a $30 million equity line of credit.
The press release is quoted as saying:
Dianor will use the funding from the equity line of credit to advance the bulk sampling of the Leadbetter Diamond Project, Dianor’s flagship project located near Wawa, Ontario. In May 2009, Dianor announced that its Northern and Central Decline Advanced Exploration/Rehabilitation/Closure plans for a 50,000-tonne bulk sampling programme on the Leadbetter Diamond Project had been approved by, and filed with, the Ontario Ministry of Northern Development, Mines and Forestry (press release May 13th 2009). Under this bulk sampling programme, Dianor expects to recover diamonds, rubies, sapphires and gold.
Click here to access the entire press release