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Tahera Diamond Corporation Closes Flow-Through Financing |
06/30/2005 |
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NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Tahera Diamond Corporation announces that it has closed the previously announced flow-through financing. A syndicate of underwriters led by Dundee Securities Corporation and including GMP Securities Ltd. and National Bank Financial Inc. exercised their option to increase the size of the financing, resulting in a total placement of 9,250,000 flow-through common shares at a subscription price of $0.48 per share, for gross proceeds of $4,440,000. The proceeds from this private placement will be utilized to fund the remaining 2005 exploration program on the Company’s diamond projects in Nunavut and the Northwest Territories.
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. In addition, 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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