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Gold/Mining/Energy : Trump's 12 Diamond Picks, Discussions Limited -- Ignore unavailable to you. Want to Upgrade?

To: Lorne who wrote (2090)	6/1/1999 11:41:00 AM
From: kidl	Read Replies (1) \| Respond to of 2251

Rex Diamond completes fundraising campaign Rex Diamond Mining Corp RXD Shares issued 51,500,000 May 31 close $2.55 Tue 1 Jun 99 News Release Mr. Serge Muller reports Rex Diamond Mining has closed a fundraising campaign, started two months ago, with the completion of a series of euro private placements. A total of 7.5 million restricted common shares were issued for gross proceeds of $13-million. In addition, a total of 4,875,000 restricted warrants with an average life of 19 months was issued for exercisable proceeds of $13,125,000. The four issues were oversubscribed and subsequently reopened at higher levels. The proceeds will be used: to boost exploration budgets; to repay bank debts; and to finance an e-commerce program. Chief executive officer Serge Muller said: “In Mauritania, Rex is holding a commanding position on the core of the Reguibat Craton and the entire rim of the Taoudeni Basin of Archean age. Results of our exploration and sampling program have by far exceeded our expectations. It is a priority now to safeguard the integrity of Rex's wholly owned projects and to give its exploration activities the funding they rightly deserve. The restricted issue was targeted exclusively to long-term European investors of high-asset value. The strengthening of our shareholder base has been and remains a primary focus of Rex. We are currently setting up an e-commerce site for the sale of exclusive diamond jewellry out of Rex's own mine production. This will fulfill our aim to be a fully integrated diamond company. The Internet retail distribution of our beautiful diamonds, uniquely straight from our mines to the buyer's home, will give Rex a global reach at a competitive cost.” © Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com