6th Apr 2006 13:37
Everfor Diamonds PLC06 April 2006 EVERFOR DIAMONDS PLC - COMMENCEMENT OF TRADING ON AIM AND £1.63m PLACEMENTS 6 April 2006 Everfor Diamonds PLC ("Everfor") (or "the Company") The Board of Everfor is pleased to announce that its ordinary shares have beenadmitted today for trading on the AIM market of London Stock Exchange Limited("AIM") under the symbol EVE. The Company is also pleased to announce successful rounds of non-brokered private placements, raising GBP 1,630,200. Canaccord Adams Limited is acting as Nominated Adviser and Broker to theCompany. PLACEMENTS AND ADMISSION * Following an initial private placement of 12,500,000 shares raising £500,000on 14 March 2006, the Company raised a further £1,130,200 through aplacement of 28,255,000 ordinary shares at 4 pence per share. This further placement was made to existing shareholders and institutional investors,providing for shareholders to participate on the same terms as the initialprivate placement * The total number of shares in issue at date of admission is 98,854,291ordinary 1p shares. BACKGROUND AND STRATEGY The funds received from the pre-IPO placings will be used to further theCompany's search for economic diamondiferous kimberlites and the directors arepleased to announce that a long-planned drilling campaign will begin on schedulein the second week of April 2006, ground conditions permitting. This programmeis designed to test over 40 of approximately 130 targets generated from thesampling and geophysical work carried out in the previous two years. Drill-holes are planned for the Pulongskaya, Ermakovskaya and Tulomo-Teriberskayalicences. Executive Chairman, Dr Sergey V. Kurzin said: "We are very excited about havingachieved this milestone of graduating to AIM. The funding that we have securedwill provide for our current drilling programme and future working capital. Both the AIM listing and the level of funding achieved give the Company theopportunity to aggressively pursue its objectives." FOR FURTHER INFORMATION: Don Duncan (Managing Director), or David Swan (Finance Director)Everfor Diamonds plcPhone +44 (20) 7514 0595Fax +44 (20) 7514 0591Email: [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
EVE.L