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Kennady Diamonds Announces CAD4M Non-Brokered Private Placement

Jul 30, 2015 1:21 AM  
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RAPAPORT... Kennady Diamonds Inc. raised approximately CAD $4 million ($3.1 million) through a placement of common shares at a price of C$3.40 per common share, according to a company statement. The Company’s major shareholder, Bottin (International) Investment Ltd., has advised the Company that they will be subscribing for shares.

The proceeds will be used for Kennady’s exploration, evaluation and permitting programs and for general corporate purposes. The exploration program includes exploration, delineation, infill and geotechnical drilling at the Kelvin kimberlite as well as exploration and delineation drilling at the Faraday kimberlites. The evaluation program includes processing of the Kelvin bulk sample, valuation of the bulk sample diamond parcel and processing of core samples.
Tags: , Canada, financing
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