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| | Wed Nov 17, 2004
Financing Closed
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| | NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
DIAMONDEX RESOURCES LTD. ("Diamondex") is pleased to announce that it has closed its non-brokered private placement, previously announced on October 26, 2004.
Diamondex issued a total of 1,676,472 units to two arms-length subscribers at a purchase price of $0.85 per unit, for aggregate gross proceeds of $1,425,001. Each unit consists of one common share and one half of a share purchase warrant, with each whole share purchase warrant exercisable for an additional common share at a price of $1.25 per share until November 17, 2006.
The securities issued in connection with this financing are subject to a four month hold period which expires on March 18, 2005.
The proceeds from the offering will be used for further exploration of Diamondex's Canadian diamond projects and working capital purposes. Diamondex holds a very large and prospective portfolio of diamond exploration properties in the lower Mackenzie River area and the southern Slave Province of the Northwest Territories, the Melville and Boothia Peninsula areas, as well as the Coronation Gulf district of Nunavut and northern Quebec. Diamondex holds up to a 100% interest in approximately 7.75 million acres comprised of 17 diamond properties.
DIAMONDEX RESOURCES LTD.
John Greig, Director
This document contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward looking statements.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Diamondex Resources Ltd.
Randy Turner
(604) 687-6644
Email: diamonds@diamondex.net
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. |
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