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Gold/Mining/Energy : Diamonds North Resources Ltd

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To: Rocket Red who wrote (112)	2/18/2003 6:30:33 PM
From: Rocket Red	Read Replies (1) of 334

Diamonds North Resources Ltd (C-DDN) - News Release Diamonds North to raise $800,000 privately Diamonds North Resources Ltd DDN Shares issued 13,047,885 Feb 18 2003 close $ 0.85 Tuesday February 18 2003 News Release Mr. Mark Kolebaba report Diamonds North Resources has arranged a non-brokered private placement of up to one million units at a price of 80 cents per unit. Each unit will consist of one common share and one non-transferable share purchase warrant. Each warrant will entitle the holder to acquire one additional common share exercisable for a period of two years following the closing of the private placement at a price of 80 cents per common share. The units will have a forced warrant conversion if shares trade at $1.60 or higher for 10 consecutive days. A finder's fee of 5 per cent of the gross proceeds may be payable in cash or shares on a portion of this placement. The net proceeds from the financing will be used for general working capital and expenses on Canadian diamond exploration projects. This financing is subject to acceptance by the TSX Venture Exchange. (c) Copyright 2003 Canjex Publishing Ltd. stockwatch.com old url (better for printing)

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