Pangolin Closes $718,000 Financing for its Diamond Projects in Botswana
15 Maio 2014 - 10:48AM
Marketwired
Pangolin Closes $718,000 Financing for its Diamond Projects in
Botswana
TORONTO, ONTARIO--(Marketwired - May 15, 2014) - Pangolin
Diamonds Corp. (the "Company" or "Pangolin") (TSX-VENTURE:PAN) is
pleased to announce the closing of a non-brokered private placement
financing for aggregate gross proceeds of $718,000 (the
"Offering"). The Offering consisted of 7,180,000 units of the
Company (each, a "Unit") at a price of $0.10 per Unit. Each Unit
consists of one common share in the capital of the Company ("Common
Share") and one Common Share purchase warrant (each a "Warrant").
Each Warrant entitles the holder thereof to acquire one Common
Share at a price of $0.20 for a period of two years from the date
hereof.
The Company retained the services of Aberdeen Gould Capital
Markets Ltd. ("Aberdeen"), an exempt market dealer based in
Toronto, to lead and arrange the Offering. The Company will pay
Aberdeen a cash payment equal to seven percent (7%) of the total
gross proceeds raised from the Offering in connection with
subscriptions arranged by Aberdeen, plus compensation warrants
("Compensation Warrants") equal to seven percent (7%) of the total
number of Units sold by Aberdeen pursuant to the Offering. Each
Compensation Warrant entitles Aberdeen to purchase one Unit of the
Company and is exercisable for a period of two years from the date
hereof on the same terms and pricing of the Units.
Funds will be applied to the on-going drilling,
geological-geophysical and sampling programs at its 100% owned
Diamond Projects in Botswana, as well as for general working
capital purposes.
The Offering is subject to the final acceptance of the TSX
Venture Exchange, and all securities issued pursuant to the
Offering are subject to a four-month and one day hold period.
About Pangolin Diamonds Corp.
Pangolin Diamonds Corp. is building a leading diamond
exploration and development company in the heart of Botswana, the
world's leading diamond producing country by value. The Company is
the 100% owner of four separate projects throughout Botswana
inclusive of the Tsabong North, Jwaneng South, Malatswae and
Mmadinare Projects. Pangolin's management and team leaders have
over 100 years' of combined diamond exploration experience. This
places the Company as one of the most experienced diamond explorers
in Botswana. The Company is equipped for exploration, with two
diamond drill rigs and a fully portable one-tonne per hour Dense
Media Separation plant used to prepare samples and make diamond
concentrates.
For more information, please refer to
www.pangolindiamondscorp.com
Follow us on Twitter: @pangolindiamond
About Aberdeen Gould Capital Markets Ltd
Aberdeen Gould Capital Markets is a Toronto based Exempt Market
Dealer that provides Investment & Merchant Banking services to
small and mid-market companies (www.aberdeengould.com).
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Pangolin Diamonds Corp.Scott YoungInvestor
Relations+1.416.488.1370scott@pangolindiamondscorp.comPangolin
Diamonds Corp.Graham C. WarrenChief Financial
Officer+1.416.594.0473+1.416.594.1630gwarren@pangolindiamondscorp.comAberdeen
Gould Capital Markets Ltd.Roger Rosmus+1.416.488.2887
x222roger@aberdeengould.com
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