Gem

TSX: DIAM Star Diamond Corporation  is pleased to announce the successful closing of a $1 .0 million private placement of 5,555,556 Flow-Through Units at a price of $0 .18 per Flow-Through Unit . Each Flow-Through Unit is comprised of one flow-through common share and one-half of one flow-through warrant. Each whole warrant will entitle the holder thereof to purchase one non-flow-through common share at a price ...

TSX: DIAM

Star Diamond Corporation (TSX: DIAM) ("Star Diamond" or the "Corporation") is pleased to announce the successful closing of a $1 .0 million private placement of 5,555,556 Flow-Through Units at a price of $0 .18 per Flow-Through Unit (the "Flow-Through Offering").

Each Flow-Through Unit is comprised of one flow-through common share and one-half (1/2) of one flow-through warrant. Each whole warrant will entitle the holder thereof to purchase one non-flow-through common share at a price of $0.25 , for a period of twenty-four months from closing. The proceeds from the sale of the Flow-Through Units will be used by the Corporation to incur Canadian exploration expenses ("Qualifying Expenditures") prior to December 31, 2021 (or December 31, 2022 if the proposals by the Department of Finance resulting from the COVID-19 pandemic, announced on July 10, 2020 , become law). The Corporation will renounce the Qualifying Expenditures to subscribers of Flow-Through Units for the fiscal year ended December 31, 2020 .

The Corporation issued Red Cloud Securities Inc., acting as finder in connection with the Flow-Through Offering ("Finder"), common shares from treasury equal to 5%, and also issued the Finder warrants equal to 5%, of the number of Flow-Through Units attributable to the Finder pursuant to the Flow-Through Offering (the "Finder's Warrants"). In relation to the Offering, the Corporation issued 277,778 common shares and 277,778 in Finder's Warrants exercisable at any time up to twenty-four months following the closing of the Flow-Through Offering at $0.19 per share. All securities issued pursuant to the Flow-Through Offering are subject to a four month hold period in accordance with applicable securities laws and exchange regulations. The Flow-Through Offering is subject to TSX acceptance of requisite regulatory filings. Insiders did not participate in the Flow-Through Offering.

Star Diamond is pleased to also announce that it proposes to undertake an additional non-brokered private placement for gross proceeds of up to $2.0 million (the "Offering"). The Offering will be comprised of non-flow-through units (the "Units") to be sold at a price of $0.15 per Unit. Each Unit will be comprised of one common share and one warrant ("Unit Warrant"). The Unit Warrants entitle the holder thereof to purchase one common share at a price of $0.25 , for a period of twenty-four months from closing. The exact number of Units sold will be determined at closing. The Corporation may pay finders' fees, comprised of common shares and warrants, in connection with the Offering. All securities issued pursuant to the Offering will be subject to a four month hold period in accordance with applicable securities laws and exchange regulations. The Offering is subject to TSX acceptance of requisite regulatory filings.

About Star Diamond Corporation

Star Diamond is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Corporation trade on the Toronto Stock Exchange under the trading symbol "DIAM".

Caution Regarding Forward-Looking Statements

This press release contains "forward-looking statements" and/or "forward-looking information", within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expect", "is expected", "in order to", "is focused on" (a future event), "estimates", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", or the negative connotation thereof. Forward-looking statements included or implied in this press release include the tax treatment of flow-through common shares and the use of the proceeds of the Offering. These forward-looking statements are based on the Corporation's current beliefs as well as assumptions made by and information currently available to the Corporation. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution readers not to place undue reliance on these statements as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America . The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.

SOURCE Star Diamond Corporation

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2020/30/c1380.html

News Provided by Canada Newswire via QuoteMedia

Mountain Province Diamonds Announces Results of First Diamond Sale of 2022, Provides Operational Update and 2022 Guidance

TSX and OTCQX: MPVD

 Mountain Province Diamonds Inc. (" Mountain Province " or the " Company ") (TSX: MPVD) (OTCQX: MPVD) is pleased to announce the results of its latest diamond sale in Antwerp, Belgium which closed on January 21, 2022 . Additionally, the Company wishes to provide an operational update, and 2022 guidance.

Keep reading... Show less

Mountain Province Diamonds Announces Management Changes

TSX and OTCQX: MPVD

 Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX: MPVD) (OTCQX: MPVD) is pleased to announce the appointment of Steven Thomas as Vice President Finance, Chief Financial Officer & Corporate Secretary, April Hayward as Chief Sustainability Officer and Matt MacPhail as Chief Technical Officer.

Keep reading... Show less
Large diamond glistening on black background

Diamond Outlook 2022: Market Stronger After COVID Blow, Digital Sales Offer Support

Click here to read the previous diamond outlook.

The diamond market experienced a much-needed recovery in 2021 after the previous year’s massive COVID-19-related supply chain and retail disruptions.

Propelled by record highs in the equity markets, consumer sentiment was bolstered in the fourth quarter of last year, leading to the strongest holiday season for the jewelry sector in a decade.

According to MasterCard (NYSE:MA), US retail sales were up 8.5 percent from the previous year, and the jewelry segment saw a 32 percent year-over-year increase.

Keep reading... Show less

Mountain Province Diamonds Announces Fourth Quarter and Full Year 2021 Production Results, Preliminary Unaudited Cost Results

A selection of rough and polished diamonds recently recovered from the Company's Gahcho Kué mine

Keep reading... Show less

Mountain Province Diamonds Provides Additional Detail on Proposed New Financing Arrangement

TSX and OTCQX: MPVD

 Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX: MPVD) (OTCQX: MPVD) is pleased to announce further details regarding its proposed financing arrangement involving its largest shareholder, Mr. Dermot Desmond (the "Proposed Arrangement" ). While the arrangements are non-binding, Mountain Province is working with its largest shareholder, Mr. Dermot Desmond to reach binding agreements in early 2022. The Proposed Arrangement is subject to, among other things, finalization of the specific terms thereof, negotiation and execution of definitive documentation, receipt of all required regulatory approvals, and the approval of the Company's disinterested shareholders.

Keep reading... Show less

Mountain Province Diamonds Announces Planned Balance Sheet Strengthening

Mountain Province Diamonds Inc. (" Mountain Province " or the " Company ") (TSX: MPVD) (OTCQX: MPVD) today announces that it has executed a non-binding term sheet with its largest shareholder, Mr. Dermot Desmond for a proposed balance sheet strengthening package to provide increased financial flexibility to the Company (the " Proposed Arrangement "). While the arrangements are non-binding, Mountain Province is working with Mr. Desmond in an effort to reach binding agreements early in 2022. The Proposed Arrangement is subject to, among other things, finalization of the specific terms thereof, the negotiation and execution of definitive documentation, as well as shareholder and regulatory approval.

The Proposed Arrangement is subject to the requirements imposed on related party transactions under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (" MI 61-101 "). The Proposed Arrangement is also subject to the approval of the Toronto Stock Exchange (the " TSX ") and the approval of the Company's disinterested shareholders in accordance with MI 61-101 and the rules of the TSX.

Keep reading... Show less

Latest Press Releases

Related News

×