Dianor Resources Inc
Focused on advancing Diamond Exploration properties in Canada.
Message: Completes First Closing of Private Placement
| May 29, 2009 |
| Dianor Completes First Closing of Private Placement |
| VAL-D'OR, QUEBEC, CANADA--(Marketwire - May 29, 2009) - THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. Dianor Resources Inc. (TSX VENTURE:DOR) announces that it has completed the first closing of a private placement by issuing an aggregate of 3,564,800 units at a price of $0.10 per unit to "accredited investors", for gross proceeds to Dianor of $356,480. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share of Dianor at a price of $0.15 until May 27, 2010 and thereafter at a price of $0.20 until May 27, 2011. Dianor expects to complete the final closing of its $1 million private placement on or before June 22, 2009. In connection with the first closing of the private placement, Dianor paid a finder's fee to Dundee Securities Corporation of $13,798.40, representing 8% of the gross proceeds raised in the private placement through Dundee Securities Corporation. The net proceeds from the private placement will be used for exploration on Dianor's properties in Quebec and Ontario and for general corporate and working capital purposes. As a result of the first closing of the private placement, there are 181,094,053 common shares of Dianor issued and outstanding. Under applicable securities legislation and the policies of the TSX Venture Exchange, all of the securities issued by Dianor at the closing are subject to a hold period expiring on September 28, 2009. |
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