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Post by Franko10 ™ on Sept 16, 2004 10:28:58 GMT -5
DIAGEM announces that it has closed a $1.45 million non-brokered private placement (the 'Diagem Placement') comprising 4,142,856 Units at $0.35. Each Unit comprises one common share and one warrant to purchase one additional common share, exercisable at a price of $0.40 for one year. This private placement relates to the non-flow through portion of the $3.45 million private placement previously announced on September 30, 2003. The proceeds of $1,450,000 of the Diagem Placement will be used to upgrade capital equipment to increase capacity and consistency of the Company's Brazilian Diamond Mining project in the Juina Diamond Province, Brazil, to participate in a private placement of KWG Resources Inc., and for general working capital purposes.
For and on behalf of DIAGEM International Resource Corp.
"Dr. Mousseau Tremblay" President
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