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STAR DIAMOND CORPORATION ANNOUNCES CLOSING OF PRIVATE PLACEMENT WITH SPIRIT RESOURCES s.a.r.l.
STAR DIAMOND CORPORATION ANNOUNCES CLOSING OF PRIVATE PLACEMENT WITH SPIRIT RESOURCES s.a.r.l. ...
About this update from Star Diamond Corporation
[{"type":"text","content":"\n\n\n\n STAR DIAMOND CORPORATION ANNOUNCES CLOSING OF PRIVATE PLACEMENT WITH SPIRIT RESOURCES s.a.r.l.\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n /NOT FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n OR THROUGH U.S. NEWSWIRES/\n \n\n\n\n TSX: DIAM\n \n\n\n\n\n SASKATOON, SK\n \n\n ,\n \n\n Aug. 6, 2025\n \n\n /CNW/ - Star Diamond Corporation (the \"Company\") (TSX: DIAM) is pleased to announce the closing of its previously announced private placement (the \"Private Placement\") of units (\"Units\") to Spirit Resources s.a.r.l. (\"Spirit\") for gross proceeds of Cdn.\n \n $4,000,000\n \n . The proceeds of the Private Placement will be used for working capital and general corporate purposes, including to advance a prefeasibility study with respect to the Fort à la Corne diamond project.\n \n\n Under the Private Placement, the Company has issued 133,333,333 Units to Spirit at a price of Cdn.\n \n $0.03\n \n per Unit. Each Unit consists of one common share of the Company (\"Common Share\") and one Common Share purchase warrant (\"Warrant\") with an exercise price of: (i) Cdn.\n \n $0.04\n \n per Common Share at any time within 12 months following the date of issue, and (ii) Cdn.\n \n $0.05\n \n per Common Share thereafter, with such Warrants being exercisable for a period of 24 months; provided that if the Company fails to complete one or more equity financings for at least Cdn.\n \n $3,000,000\n \n in aggregate within such 24-month period, then the exercise period of the Warrants will be extended by a further 12 months.\n \n\n In connection with the closing of the Private Placement, the Company and Spirit entered into an investor rights agreement dated\n \n August 6, 2025\n \n (\"Investor Rights Agreement\"), pursuant to which Spirit was granted certain pre-emptive and prospectus registration rights, the right to nominate two directors to the board of directors of the Company (the \"Board\"), as well as, in the event Spirit exercises all of the Warrants, the right to nomi...