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Ryan
posted on
Jan 08, 2010 02:18PM
January 6, 2010 - Vancouver, BC -- Rockwell Diamonds Inc. ("Rockwell" or the "Company") (TSX: RDI; JSE: RDI; OTCBB: RDIAF) announces that it has now completed approximately $7.4 million of the planned $12.5 million of financings announced December 2, 2009. The shares issued under this financing will be subject to four month resale restricted periods from their issuance dates in December 2009 and January 2010. The Company also intends to increase the originally planned $12.5 million of financings by approximately $2.2 million, and it has received Toronto Stock Exchange approval for such increase. The Company expects to complete the remaining financings in January 2010.
The remaining portion of the Company's recapitalization will be sought through a rights offering planned for January 2010. Completion of at least $3.1 million of this rights offering is guaranteed by another new principal investor, Daboll Consultants who are associated with the Steinmetz Diamond Group.
