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Tahera Announces Conversion of Secured Convertible Debenture |
03/19/2004 |
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Download this Press Release
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Toronto – March 19, 2004
Tahera Corporation announces that the secured convertible debenture held by Dundee Precious Metals Inc., which was called for redemption by the Company on February 24, 2004, has been converted by Dundee into 22,536,000 common shares and 11,268,000 common share purchase warrants. Each common share purchase warrant is exercisable into one common share at a price of $0.495 until March 2, 2009, when they expire. The common shares and common share purchase warrants issuable in this transaction have been included in the fully diluted share capital previously disclosed.
In addition to being completely debt free following this transaction, Tahera Corporation will benefit from the elimination of the remaining interest payments and the release of the Jericho project security. The Company will have significantly enhanced financial flexibility as a result of this transaction.
About Tahera Corporation
Tahera Corporation (www.tahera.com), a unique Canadian diamond Company, is focused on developing its wholly-owned Jericho Diamond Project as CANADA'S NEXT and NUNAVUT'S FIRST DIAMOND MINE. Tahera has several other prospective diamond projects in Canada's prolific Slave Craton. The common shares of the Company trade on the TSX under the symbol 'TAH'.
Tahera Corporation
Grant Ewing – Executive Vice President
For further information:
Investor Relations
Tel: (416) 777-1998 Fax: (416) 777-1898 Toll free: (877) 777-2004
Email: investor_relations@tahera.com
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