Management of DiamondWorks (DMW-T) plans to spend the proceeds of a proposed $20-Million private placement to advance its diamond and mineral properties worldwide.
The placement will be in the form of 12.2 million special warrants, to be sold at $1.65 each. The offering is expected to close in mid-July.
The junior is producing diamonds at its Luo concession in Angola’s Lunda Norte province, and has other diamond projects in Africa and Canada’s Northwest Territories. In addition, DiamondWorks has interests in various gold and polymetallic exploration projects in China and Venezuela.
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