| Mon 4 Feb 2008, 12:08 | | BCD - BRC Diamond Corporation Begins Trading On JSE As Prelude To Merger With |
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BCD
BCD
BCD - BRC Diamond Corporation Begins Trading On JSE As Prelude To Merger With
Diamond Core Resources
BRC DIAMOND CORPORATION LIMITED
(a Canadian corporation)
(Corporation Number: 627115-4)
Share Code on the JSE Limited: BCD
Share Code on the TSX-V: BRC ISIN: CA05565C1095
("BRC" or "the Company")
BRC DIAMOND CORPORATION BEGINS TRADING ON JSE AS PRELUDE TO MERGER WITH DIAMOND
CORE RESOURCES
BRC Diamond Corporation ("BRC" or the "Company") (TSX.V - "BRC"; JSE - "BCD") is
pleased to announce that its common shares have been listed on the JSE Limited
("JSE") in Johannesburg and that trading of such shares on the JSE commenced
today, February 4, 2008, under the trading symbol "BCD".
This listing precedes the pending merger of the businesses of BRC and Diamond
Core Resources Limited ("Diamond Core"). As previously disclosed, this merger
is being implemented by way of a court-sanctioned scheme of arrangement (the
"Scheme") between Diamond Core and its shareholders under the provisions of
applicable South African corporate law, pursuant to which BRC will acquire all
of the outstanding shares of Diamond Core in exchange for the issuance of BRC
shares. The Scheme received overwhelming support from Diamond Core`s
shareholders. The transaction is expected to be completed on February 11, 2008
and, in connection with such completion, the Company`s name will be changed to
BRC DiamondCore Ltd. Trading on the JSE under this new name will continue under
the symbol "BCD".
As part of the transaction, BRC has applied, and received conditional approval,
for the listing of its shares on the Toronto Stock Exchange ("TSX"). Such
listing is subject to certain conditions, including that the Diamond Core
transaction be completed. It is expected that trading of such shares on the TSX
under the new name of BRC DiamondCore Ltd. will begin on or about February 11,
2008, also under the symbol "BCD".
Dr. Mike de Wit, President and C.E.O. of BRC, commented: "This is a very
exciting day for all stakeholders, with the listing of BRC on the JSE being the
final step preceding the merger of the businesses of BRC and Diamond Core. The
combined business, which builds on the natural synergies of both companies, will
bring together Diamond Core`s strong engineering capabilities and advanced
development projects in South Africa, with BRC`s geological expertise and
substantial portfolio of highly prospective projects in the most prominent
diamond districts of the Democratic Republic of the Congo."
"With listings on two major stock exchanges and a leadership team with a proven
track record in diamond exploration, development and operations, BRC DiamondCore
Ltd. will be in a unique position to grow organically and through acquisition."
For more information on the transaction, please see the press releases dated
July 5, 2007, August 2, 2007, September 7, 2007, October 30, 2007 and December
14, 2007, copies of which are available on SEDAR at www.sedar.com.
For further information, please contact Dr. Mike de Wit, President and C.E.O.,
Arnold T. Kondrat, Executive Vice President, or Martin D. Jones, Vice President,
Corporate Development, at (416) 366-2221 or 1-800-714-7938.
Johannesburg
4 February
Sponsor
River Group
Date: 04/02/2008 12:08:31 Produced by the JSE SENS Department.
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