By Sheri Kasprzak
New York, Nov. 21 - Kimberley Diamond Co. NL said it has completed a private placement for A$12.5 million.
The company issued 10 million shares at A$1.25 each to a group of institutional and professional investors.
Southern Cross Equities Ltd. was the placement agent.
The company also intends to raise A$28.1 million from a rights issue on a 1-for-12 basis at A$1.20 each.
Proceeds from the financing will be used for a staged upgrade on the Ellendale 9 East Plant.
Based in West Perth, Western Australia, Kimberley is a diamond exploration company.
| Issuer: | Kimberley Diamond Co. NL
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| Issue: | Stock
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| Amount: | A$12.5 million
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| Shares: | 10 million
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| Price: | A$1.25
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| Warrants: | No
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| Placement agent: | Southern Cross Equities Ltd.
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| Settlement date: | Nov. 21
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| Stock price: | A$1.33 at close Nov. 21
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