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Microcap & Penny Stocks : LCD- Leicester Diamond

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To: jerry janko who wrote (7)8/3/1999 9:55:00 PM
From: jerry janko   of 14
 
Leicester to sell 2.5 million units privately

Leicester Diamond Mines Ltd LCD
Shares issued 20,727,805 Aug 3 close $0.28
Tue 3 Aug 99 News Release
Mr. Robert Evans reports
Leicester Diamond Mines is raising $600,000 by a private placement of 2.5
million units. Each unit will consist of one share at a price of 24 cents
and one non-transferable warrant. Each warrant is convertible into a share
at 24 cents if exercised in the first year or 28 cents if exercised in the
second year.
An agent's fee of 187,000 units is payable to Yorkton Securities Inc. The
units have identical terms to the units of the private placement.
The funds will be used for exploration of the company's Shetland Islands
platinum-palladium properties and for working capital.
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