Stornoway Announces Closing of Agreement

Stornoway Diamond Corporation (TSX:SWY) reports the closing of  agreement to acquire the remaining 50% interest of DIAQUEM Inc. in the Renard Diamond project, Québec.

The press release is quoted as saying:

The Renard Diamond Project is now owned 100% by Stornoway. A Bankable Feasibility Study and an Environmental and Social Impact Assessment are on schedule for completion in the 3^rd quarter of 2011. In addition, it is expected that construction of the Route 167 Extension, the road development project that will provide year-round highway access to Renard by way of the communities of Mistissini and Chibougamau, will commence this year under the auspices of the Québec Ministry of Transportation.

Click here to access the entire news release.

Click here to access Stornoway’s company profile.