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Tahera Diamond Corporation Prices Cdn.$45,050,000 Equity Financing |
10/29/2004 |
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Download this Press Release
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Tahera Diamond Corporation (TSX-TAH) announced today that in connection with the previously announced filing of a preliminary short form prospectus in all provinces of Canada for an offering of common shares, the Company has entered into an underwriting agreement with 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., to issue to the public 132,500,000 common shares from treasury at a price of $0.34 per share for gross proceeds of Cdn.$45,050,000. A final prospectus is expected to be filed today.
The Company has granted the underwriters an option to purchase up to an additional 15,335,000 common shares at the offering price for a period of 30 days from the closing of the offering for additional proceeds of $5,213,900.
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 offering is scheduled to close on or about November 8, 2004 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange.
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 a letter of intent with Tiffany & Co., one of the world’s leading jewelers, with respect to a diamond purchase, 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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