| Thu 12 May 2011, 8:35 | | BCD - BRC DiamondCore - BRC Diamondcore Closes Financing |
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BCD
BCD
BCD - BRC DiamondCore - BRC Diamondcore Closes Financing
BRC DIAMONDCORE LTD.
(Incorporated in Canada)
(Corporation number 627115-4)
Share code: BCD & ISIN Number: CA05565C1095
("BRC DiamondCore" or "the Company")
BRC DIAMONDCORE CLOSES FINANCING
Toronto, Canada- May 11, 2011.BRC DiamondCore Ltd. (the "Company") (TSX -
BCD; JSE - BCD) announces that, further to its May 4, 2011 press release, it
has closed a non-brokered private placement of 7,500,000 units of the Company
at a price of Cdn$0.08 per unit for proceeds to the Company of Cdn$600,000.
Each such unit is comprised of one common share of the Company and one
warrant of the Company, with each such warrant entitling the holder to
purchase one common share of the Company at a price of Cdn$0.11 for a period
of three years. The Company intends to use the proceeds from this financing
for general corporate purposes.
BRC DiamondCore Ltd. is an African-focused diamond explorer with projects in
the Democratic Republic of the Congo. Led by a management team with
extensive experience in diamond exploration and mine development, the Company
works in a systematic and responsible manner to discover, assess and develop
diamond resources for the benefit of its shareholders and local stakeholders.
For further information, please visit our website, www.brc-diamondcore.com,
or contact:
In Toronto: Arnold T. Kondrat, Director, (416) 366-2221 or 1-800-714-7938.
In Johannesburg: Brian P. Scallan, Vice President, Finance, +27 82 902 6273
or +243 991772978.
JOHANNESBURG
12 May 2011
Date: 12/05/2011 08:35:01 Produced by the JSE SENS Department.
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