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Gold/Mining/Energy : Canabrava Diamond -- Ignore unavailable to you. Want to Upgrade?

To: 1st.mate who wrote (2190)	12/28/2000 11:15:54 AM
From: GC	Read Replies (1) \| Respond to of 2402

Wednesday December 27, 9:51 pm Eastern Time Press Release Canabrava Closes $2.0 Million Private Placement VANCOUVER, B.C.--(BUSINESS WIRE)--Dec. 27, 2000--Canabrava Diamond Corporation (CDNX:CNB. - news; ``Canabrava'') announced today that it has closed a private placement financing of 4,000,000 Series A Units at $0.40 each, for gross proceeds of up to $2,000,000. Each Series A Unit consists of one flow-through common share and one-half of a common share purchase warrant. Each whole share purchase warrant will entitle the holder to buy one common share for a price of $0.50 within 12 months after closing. Haywood Securities Inc. acted as agent for the sale of Series A Units and was paid a commission of 7.5% of gross proceeds from the sale of the Series A Units and received broker warrants equal to 10% of the number of Series A Units sold. Each broker warrant will entitle the holder to purchase one common share at a price of $0.40 within 12 months after closing. Proceeds from the sale of the private placement will be used for ongoing exploration and development programs in Canada and for working capital. Canabrava Diamond Corporation is actively exploring for diamonds in Brazil and Canada both independently and through major joint ventures with Kennecott Canada Exploration Inc., SouthernEra Resources Limited and Navigator Exploration Corp. The Company is 52.5% owned by Southwestern Gold Corporation. The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. -------------------------------------------------------------------------------- Contact: Canabrava Diamond Corporation George H. Plewes, Chairman 604/669-2525 604/688-5175 (FAX) Email: info@canabrava.ca Website: www.canabrava.ca or Canabrava Diamond Corporation Rory O. Moore, President 604/669-2525 604/688-5175 (FAX) Email this story - Most-emailed articles - Most-viewed articles