4th Feb 2005 14:39
SouthernEra Closes $587,500 Private Placement Shares Issued and Outstanding: 86,630,418 TSX: SDM AIM: SRE TORONTO, Feb. 4 /CNW/ - SouthernEra Diamonds Inc. (the "Company") (TSX: SDM, AIM: SRE) announced today the closing of its previously announcednon-brokered private placement to the Company's directors. The financingincluded 992,100 common shares of the Company at a price of C$0.47 per commonshare and 257,900 flow-through common shares in the Company at a price ofC$0.47 per flow-through common share for a total of 1.25 million shares atC$0.47 per share. Gross proceeds totaled C$587,500. No warrants or optionswere issued or granted and the private placement shares are subject to amandatory hold period. The proceeds from the private placement will be used to support theCompany's global exploration program and for general corporate purposes. The securities being offered have not, nor will they be registered underthe United States Securities Act of 1933, as amended, and may not be offeredor sold within the United States or to, or for the account or benefit of U.S.persons absent U.S. registration or an applicable exemption from U.S.registration requirements. This release does not constitute an offer for saleof securities in the United States. SouthernEra Diamonds is one of Canada's largest fully integrated diamondcompanies with extensive diamond exploration in five countries, includingCanada, Australia, Gabon, the Democratic Republic of the Congo and SouthAfrica. This represents one of the most active global diamond explorationprograms. The Company also operates the Klipspringer Diamond Mine in SouthAfrica and maintains an 18 percent free-carried interest in the CamafucaDiamond Project in Angola. For further information: PLEASE CONTACT: SouthernEra Diamonds Inc., Mr. Chris Reynolds, Senior Vice President and CFO, or Ms. Sharon Allan,Investor Relations, Telephone: (416) 359-9282, Fax: (416) 359-9141, E-mail:inbox(at)southernera.com, www.southernera.com (SDM.) ENDRelated Shares:
Sirius Real Estate