Vancouver, British Columbia (FSCwire) - Strike Diamond Corp. (TSX VENTURE:SRK)("Strike Diamond" or “the Corporation”) is pleased to announce that it intends to conduct a non-brokered private placement of up to 6,666,667 flow-through units  at a price of $0.06 per flow-through unit (the “Flow-Through Units”) to raise gross proceeds of up to $400,000 (the “Flow-Through Financing”) and up to 2,000,000 common share units at a price of $0.05 per common share unit (the “Common Share Units”) to raise gross proceeds of up to $100,000 (the “Common Share Financing”), (the Flow-Through Financing and Common Share Financing, collectively, the “Private Placement”).

 

Each Flow-Through Unit under the Private Placement will consist of one flow-through common share and one half-warrant. Each whole warrant will entitle the holder to purchase one additional non-flow-through common share of Strike Diamond at an exercise price of $0.10 per common share during the period that is 12 months from the closing date.

 

Each Common Share Unit under the Private Placement will consist of one common share and one full warrant. Each warrant will entitle the holder to purchase one additional common share of Strike Diamond at an exercise price of $0.10 per common share during the period that is 12 months from the closing date.

 

The Corporation advises that insiders of Strike Diamond may participate for greater than 25% of the Private Placement.

 

Shares issued pursuant to the Private Placement will be subject to a four-month hold period under applicable securities laws in Canada.

 

Strike Diamond may pay finder's fees on certain subscriptions within the Private Placement equal to 6%.

 

The Corporation expects to use the flow-through proceeds of the Private Placement for the exploration and advancement of its Sask Craton Property during the summer of 2015 and the non-flow-through proceeds for general and working capital purposes.

 

About Strike Diamond Corporation

 

Strike Diamond Corporation is the operator of an 80% interest in the Sask Craton Property which represents one of the largest publicly-traded mineral tenure positions in the emerging Pikoo diamond exploration district. For more information visit www.StrikeDiamond.com.

 

Forward-Looking Statements

 

This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently expected or forecast in such statements.

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Contact Information:

 

Ryan Kalt

Chief Executive Officer
1-403-410-3817
info@strikediamond.com
www.StrikeDiamond.com

To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/strike05192015.pdf

Source: Strike Diamond Corp. (TSX Venture:SRK) http://www.strikediamond.com/

 

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