Business
Diamond Fields' Rights Offering Closed
Diamond Fields' Rights Offering Closed.
About this update from Dfr Gold Inc
[{"type":"text","content":"\n\n\n\nSYMBOL: DFI\n\n\nCAPE TOWN, South Africa, Feb. 5 /CNW/ - Diamond Fields International Ltd.\n(DFI:TSX) (\"DFI\" or the \"Company\") is pleased to announce that further to the\nCompany's news releases dated December 18, 2006 and January 24, 2007,\nregarding DFI's Rights Offering to its shareholders resident in Canada and in\neligible offshore jurisdictions, a total of 28,036,629 common shares of the\nCompany were subscribed for at a price of $0.09 per share for total gross\nproceeds of approximately $2,523,297.\n\n\nPursuant to the standby guarantee agreement entered into between Spirit\nResources SARL (\"Spirit\") and the Company in connection with the Rights\nOffering (as announced in the Company's news release dated September 1, 2006),\nof the approximately $2,523,297 raised in the Rights Offering, an aggregate of\n$1,761,825.96 was provided by Spirit through the exercise of its basic and\nadditional subscription privileges for the issue of 19,575,844 shares under\nthe Rights Offering. Spirit is controlled by DFI's major shareholder,\nJean-Raymond Boulle, who, following completion of the Rights Offering,\nbeneficially holds, directly or indirectly, 38,174,305 common shares of the\nCompany representing approximately 27% of the Company's 141,332,646 issued and\noutstanding shares.\n\n\nAs disclosed in detail in the Company's rights offering circular dated\nDecember 14, 2006, the proceeds from the Rights Offering has been or will be\nused to fund the completion of the Company's mining vessel dry docking,\nupgrade and maintenance program, to continue the Liberian diamond and gold\nexploration projects, to pay for the expenses of the Rights Offering and for\ngeneral working capital and administrative expenses.\n\n\nThe Board of Directors of the Company wishes to thank its shareholders\nwho participated in and contributed to the success of the Rights Offering.\n\n\nDIAMOND FIELDS INTERNATIONAL LTD.\n\n\n\"Roger J. Daniel\"\n\n\nRoger J. Daniel, President and CEO\n\n\nForward-Looking Statements: Statements in this release that are\nforward-looking statements are subject to various risks and uncertainties\nconcerning the specific factors identified in Diamond Fields' periodic filings\nwith Canadian Securities Regulators. Such forward-looking information\nrepresents management's best judgment based on information currently\navai...