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RAPAPORT... Pangolin Diamonds Corp. closed a non-brokered private placement round of financing for aggregate gross proceeds of $427,916, consisting of 7,131,940 units at 6 cents each. Each unit consists of one common share in the capital of Pangolin and one common share purchase warrant, whereas each warrant entitles the holder to acquire one common share at 12 cents for a period of two years. Company insiders participated in the placement to the tune of $83,216. Funds will be applied to Pangolin's drilling, geological-geophysical and sampling programs that are underway at diamond projects in Botswana, as well as for general working capital purposes, according to the filing. The offering is subject to final regulatory approval.
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