Contact Diamond arranges and closes financing
27 Julio 2005 - 3:07PM
PR Newswire (US)
Contact Diamond arranges and closes financing Stock Symbol: CO
(TSX) TORONTO, July 27 /PRNewswire-FirstCall/ -- Contact Diamond
Corporation announced today that it has agreed to and closed a
private placement from treasury of 3,700,000 shares to flow-through
investors for total proceeds of $2.035 million. Under the terms of
the private placement, Contact Diamond will renounce an equivalent
amount of tax deductions from its exploration program expenditures
to the investors. About Contact Diamond Corporation Contact Diamond
Corporation is an exploration and development company with diamond
properties in Ontario, Quebec, Northwest Territories and Nunavut.
Timiskaming, at the Ontario-Quebec border, is its leading project.
Agnico-Eagle Mines Limited (NYSE:AEMNYSE:TSX:NYSE:AGE) is currently
the largest shareholder of the corporation. Cautionary Statement
Regarding Forward-Looking Information Except for statements of
historical fact relating to the Corporation, certain information
contained herein constitutes forward-looking statements.
Forward-looking statements are frequently characterized by words
such as "potential", "estimate", "plan," "expect," "project,"
"intend," "believe," "anticipate" and other similar words, or
statements that certain events or conditions "may" or "will" occur.
Forward-looking statements are based on the opinions and estimates
of management at the date the statements are made, and are subject
to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from
those projected in the forward-looking statements. These factors
include the inherent risks involved in the exploration and
development of mineral properties, the uncertainties involved in
interpreting drilling results and other geological data, the lack
of a quoted market for diamonds, the possibility of project cost
overruns or unanticipated costs and expenses, a history of net
losses, dependence on the support of a significant shareholder,
uncertainties relating to the availability and costs of financing
needed in the future and other factors usual to the mining
industry. The Corporation undertakes no obligation to update
forward-looking statements if circumstances or management's
estimates or opinions should change. The reader is cautioned not to
place undue reliance on forward-looking statements. DATASOURCE:
Contact Diamond Corporation CONTACT: Matt Manson, President &
COO, David Smith, Investor Relations, (416) 947-1212
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