24th Mar 2005 07:01
SouthernEra Diamonds Announces Private Placement Through Canaccord Capital (Europe) Shares Issued and Outstanding: 86,677,701 TSX: SDM AIM: SRE TORONTO and LONDON, UK, March 23 /CNW/ - SouthernEra Diamonds Inc. (the"Company") (TSX: SDM, AIM: SRE) announces today that it has conditionallyplaced 13,888,900 units, each unit consisting of one common share and one-halfof one common share purchase warrant, to institutional investors in the UK andEurope. The units were placed at a price of 18p (approximately C$0.42) eachfor gross proceeds of pnds stlg 2,500,000 (approximately C$5.8 million). Eachwhole warrant will entitle the holder to purchase one common share of theCompany at a price of 27p (approximately C$0.64) for 24 months from theclosing date. The proceeds from the private placement will be used to support theCompany's global exploration program and for general corporate purposes. Application has been made for the common shares placed to be admitted totrading on AIM and admission and dealings in these shares are expected tocommence on 30 March 2005. Canaccord Capital (Europe) Limited acted as brokerto the placing. 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: SouthernEra Diamonds Inc., Mr. Patrick Evans,President and CEO, Telephone: (416) 359-9282, Fax: (416) 359-9141, E-mail:inbox(at)southernera.com, www.southernera.com (SRE) ENDSOUTHERNERA DIAMONDS INCRelated Shares:
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