Diagem Announces Closing of Right's Offering (ccnm)
MONTREAL, QUEBEC--(CCNMatthews - Dec. 2, 2005) - Diagem Inc. (TSX VENTURE:DGM)("Diagem" or "the Company") announces that it has completed its rights offering as a result of which cash proceeds of $953,267 were raised and outstanding debt owing to Northbrock Capital Inc. ("Northbrock") in the amount of $2,629,986 was converted into shares of the Company. Subject to the approval of the shareholders at the annual and special meeting of shareholders of the Company to be held on December 7, 2005, an additional portion of $395,929 of debt owing to Northbrock will also be converted into shares of the Company in accordance with the terms of the rights offering, which would bring Northbrock's equity participation in the Company to 21.98% of the then outstanding shares of the Company.
FOR FURTHER INFORMATION PLEASE CONTACT:
Diagem Inc. Paul Einarson Chief Financial Officer (514) 866-6001 (514) 866-6193 (FAX) or Diagem Inc. Claude Durocher Chief Executive Officer (416) 368-3601 www.diagem.com
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