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BCD - BRC DiamondCore - BRC Diamondcore announces Financing
BRC DIAMONDCORE LTD.
(Incorporated in Canada)
(Corporation number 627115-4)
Share code: BCD & ISIN Number: CA05565C1095
("BRC DiamondCore" or "the Company")
BRC DIAMONDCORE ANNOUNCES FINANCING
Toronto, Canada- May 4, 2011.BRC DiamondCore Ltd. (the "Company") (TSX - BCD;
JSE - BCD) announces that it proposes to carry out a non-brokered private
placement of up to 7,500,000 units of the Company at a price of Cdn$0.08 per
unit for proceeds to the Company of up to Cdn$600,000. Each such unit is to be
comprised of one common share of the Company and one warrant of the Company,
with each such warrant entitling the holder to purchase one common share of the
Company at a price of Cdn$0.11 for a period of three years. Closing of this
financing (the "Financing") is subject to receipt of all necessary approvals,
including the approval of the Toronto Stock Exchange. The Company intends to
use the proceeds from the Financing for general corporate purposes.
BRC DiamondCore Ltd. is an African-focused diamond explorer with projects in the
Democratic Republic of the Congo (the "DRC"). Led by a management team with
extensive experience in diamond exploration and mine development, the Company
works in a systematic and responsible manner to discover, assess and develop
diamond resources for the benefit of its shareholders and local stakeholders.
JOHANNESBURG
05 MAY 2011
For further information, please visit our website, www.brc-diamondcore.com, or
contact:
In Toronto: Arnold T. Kondrat, Director, (416) 366-2221 or 1-800-714-7938.
In Johannesburg: Brian P. Scallan, Vice President, Finance, +27 82 902 6273 or
+243 991772978.
Forward-Looking Information: Statements in this press release announcing the
proposed Financing are forward-looking information within the meaning of
applicable Canadian securities laws.
Forward-looking information is subject to a number of risks and uncertainties
that may cause the actual results of the Company to differ materially from those
discussed in the forward-looking information, and even if such actual results
are realized or substantially realized, there can be no assurance that they will
have the expected consequences to, or effects on the Company. Factors that
could cause actual results or events to differ materially from current
expectations include, among other things, failure to complete the proposed
Financing, the need to satisfy regulatory and legal requirements with respect to
the proposed Financing, risks related to the exploration stage of the Company`s
projects, political developments in the DRC, market fluctuations in prices for
securities of exploration stage companies, uncertainties about the availability
of additional financing,changes in equity markets, changes in commodity markets,
and the other risks involved in the mineral exploration business. Forward-
looking information speaks only as of the date on which it is provided and,
except as may be required by applicable securities laws, the Company disclaims
any intent or obligation to update any forward-looking information, whether as a
result of new information, future events or results or otherwise. Although the
Company believes that the assumptions inherent in the forward-looking
information are reasonable, forward-looking information is not a guarantee of
future performance and accordingly undue reliance should not be put on such
information due to the inherent uncertainty therein.
Date: 05/05/2011 08:33:01 Supplied by www.sharenet.co.za
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