I originally thought that this was a duplicate news release that I received late. However, this release from yesterday isn't worded exactly the same as the release posted by Rocklicker on Dec.23. Perhaps it is just a reminder that the recent PP for $1.5 million was at .35.

Debut Diamonds closes on $1.5-million private placement

2011-12-29 17:57 ET - News Release

Mr. Bruce Hodgman reports

DEBUT DIAMONDS INC. COMPLETES PRIVATE PLACEMENT

Debut Diamonds Inc. successfully completed a $1.5-million private placement. An aggregate of 4,285,715 units were sold to funds of the MineralFields Group at 35 cents per unit for gross proceeds of $1.5-million. Each unit is composed of one flow-through common share and one-half of a flow-through common share purchase warrant. Each whole warrant entitles the holder to purchase one non-flow-through common share at any time for a period of two years, at a price of 45 cents.

A finder received as aggregate compensation (i) 5.0-per-cent cash commission, and (ii) 428,571 finder's options, being 10 per cent of the aggregate number of units purchased under the private placement. Each finder's option entitles the holder to purchase one unit at a price of 35 cents per finder's unit. Each finder's unit consists of one non-flow-through common share and one-half of one common share purchase warrant. Each whole warrant is exercisable at a price of 45 cents for a two-year period from closing.

The gross proceeds to debut from the private placement will be used to pay for exploration expenses which qualify as a Canadian exploration expenses (within the meaning of the Income Tax Act (Canada)) in connection with Debut's projects in Ontario, including its Nakina properties in Thunder Bay and Porcupine.

All the securities issued pursuant to the private placement are subject to a four-month hold period expiring April 23, 2012.

The common shares of Debut were listed on the Canadian National Stock Exchange (CNSX: DDI) on Dec. 13, 2011. Pursuant to a previously announced share distribution, KWG Resources Inc. set the close of business on Thursday, Dec. 15, 2011, as the time and date when determining its shareholders of record who will be entitled to participate in the distribution of the shares of Debut. For every 100 shares of KWG then held, shareholders will receive six shares of Debut on Dec. 28, 2011. It is expected that mailing of the share distribution will be completed on Dec. 30, 2011.

We seek Safe Harbor.