By Devika Patel
Knoxville, Tenn., Aug. 21 - KimCor Diamonds plc announced it has raised £4,259,775 in a private placement of stock.
The company sold 65.535 million shares at 6.5p apiece.
The proposed placement is conditional upon completion of the company's acquisition of Dwyka Diamonds Holdings Ltd., a Mauritius holding company, whose subsidiaries are engaged in the exploration and mining of diamonds in South Africa and Tanzania.
KimCor Diamonds is a diamond mining and exploration company based in London.
Issuer: | KimCor Diamonds plc
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Issue: | Stock
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Amount: | £4,259,775
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Shares: | 65.535 million
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Price: | 6.5p
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Warrants: | No
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Pricing date: | Aug. 21
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Stock symbol: | London: KIM
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Stock price: | 6.5p at close on Aug. 20
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