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Tahera Diamond Corporation Announces Exercise of $5.2 Million Over-Allotment Option, Total Gross Proceeds From Equity Offering Increases to $50.3 Million |
11/10/2004 |
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Tahera Diamond Corporation (TSX-TAH) announced today that the over-allotment option granted to the underwriters in connection with its previously announced equity offering was exercised in full and has closed for additional gross proceeds of $5.2 million. A syndicate of underwriters led by GMP Securities Ltd., and including TD Securities Inc., National Bank Financial Inc., Dundee Securities Corporation, Westwind Partners Inc. and Paradigm Capital Inc., acted in connection with the sale of 15,335,000 additional common shares issued from treasury at a price of $0.34 per share. This brings the total offering of common shares to 147,835,000 shares for total gross proceeds of $50,263,000.
Tahera plans to use the net proceeds of the offering towards the financing of the development and construction of the Jericho Diamond Mine and for general working capital purposes
THE SECURITIES BEING OFFERED HAVE NOT BEEN, NOR WILL BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS ABSENT U.S. REGISTRATION OR AN APPLICABLE EXEMPTION FROM U.S. REGISTRATION REQUIREMENTS. THIS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THE SECURITIES IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL.
About Tahera Diamond Corporation
Tahera Diamond Corporation (www.tahera.com) is a unique Canadian diamond Company focused on developing its wholly-owned Jericho Diamond Project as CANADA'S NEXT and NUNAVUT'S FIRST DIAMOND MINE. Tahera recently entered into an arrangement with Tiffany & Co., one of the world’s leading jewelers, with respect to a diamond purchasing, marketing, and finance agreement for the Jericho Diamond Project. Tahera has several other very prospective diamond projects in Canada's prolific Slave Craton. The common shares of the Company trade on the TSX under the symbol 'TAH'.
Tahera Diamond Corporation
R. Peter Gillin – Chairman and CEO
Grant Ewing – Executive Vice President, Corporate Development
Investor Relations:
Tel: (416) 777-1998 Fax: (416) 777-1898 Toll free: (877) 777-2004
Email: investor_relations@tahera.com
Website: www.tahera.com
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