31st Mar 2005 16:22
SouthernEra Diamonds Closes Private Placement Through Canaccord Capital (Europe) Shares Issued and Outstanding: 100,566,601 TSX: SDM AIM: SRE TORONTO and LONDON, UK, March 31 /CNW/ - SouthernEra Diamonds Inc. (the"Company") (TSX: SDM, AIM: SRE) announced today that it has closed thepreviously announced placement through Canaccord Capital (Europe). In terms ofthe placement, 13,888,900 units (each unit consisting of one common share andone-half of one common share purchase warrant) were sold to institutionalinvestors in the UK and Europe. The units were placed at a price of 18p(approximately C$0.42) each for gross proceeds of pnds stlg 2,500,000(approximately C$5.8 million). Each whole warrant will entitle the holder topurchase one common share of the Company at a price of 27p (approximatelyC$0.64) for 24 months from the closing date. The proceeds from the private placement will be used to support theCompany's global exploration program and for general corporate purposes. The securities placed have not, nor will they be registered under theUnited States Securities Act of 1933, as amended, and may not be offered orsold 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 (SDM. SRE) ENDSOUTHERNERA DIAMONDS INCRelated Shares:
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