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BCD - BRC Diamondcore Ltd - 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 13, 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 2,500,000 units of the Company at a price of Cdn$0.10 per
unit for proceeds to the Company of up to Cdn$250,000. 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. Directors and officers of the Company are the proposed
subscribers under the Financing.
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.
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.
Johannesburg
13 May 2011
Sponsors
Arcay Moela Sponsors (Pty) Ltd
Date: 13/05/2011 17:37:01 Supplied by www.sharenet.co.za
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