Archangel investor decides to cancel $13.75 million private placement

By Devika Patel

Knoxville, Tenn., June 18 - Archangel Diamond Corp. announced that its proposed $13.75 million non-brokered private placement of common shares will not proceed. The deal was announced June 4.

The investor chose to back out of the non-binding term sheet, according to a company press release.

Archangel is a Toronto-based diamond exploration company.

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