Kennady Diamonds to Plans to Raise C$4 Million

Kennady Diamonds Inc. (TSXV:KDI) announced plans to raise C$4-million via a non-brokered private placement. Common shares of the company will be priced at C$3.40 each.
As quoted in the press release:

The Company’s major shareholder, Bottin (International) Investment Ltd., has advised the Company that they will be subscribing for shares under the Placement.
The proceeds from the Placement will be used to fund the Company’s exploration, evaluation and permitting programs and for general corporate purposes. The exploration program includes exploration, delineation, infill and geotechnical drilling at the Kelvin kimberlite as well as exploration and delineation drilling at the Faraday kimberlites. The evaluation program includes processing of the Kelvin bulk sample, valuation of the bulk sample diamond parcel and processing of core samples.

Click here to read the full Kennady Diamonds Inc. (TSXV:KDI) press release.