GRANDE DUCHE DE LUXEMBOURG, Feb. 8 /CNW/ - Spirit Resources SARL ("Spirit" or the "Company"), announces that it has acquired 19,575,844 shares of Diamond Fields International ("DFI") pursuant to DFI's Rights Offering announced December 18, 2006 and January 24, 2007.
Pursuant to a standby guarantee agreement entered into between Spirit and DFI in connection with the Rights Offering, of the approximately $2,523,297 raised in the Rights Offering, an aggregate of $1,761,825.96 was provided by Spirit through the exercise of its basic and additional subscription privileges for the issue of 19,575,844 shares under the Rights Offering.
Spirit is controlled by DFI's major shareholder, Jean-Raymond Boulle, who, following completion of the Rights Offering, beneficially holds, directly or indirectly, 38,174,305 common shares of DFI representing approximately 27% of DFI's 141,332,646 issued and outstanding shares.
These securities will be held for investment purposes. Mr. Boulle may, depending on market and other conditions, increase or decrease his beneficial ownership of DFI securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investments and business opportunities.
This press release is issued pursuant to section 111 of the Securities Act (British Columbia), section 110 of the Securities Act (Saskatchewan), and section 101 of the Securities Act (Ontario) which also require a report to be filed with the B.C. Securities Commission, the Saskatchewan Financial Services Commission, and the Ontario Securities Commission containing additional information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with DFI's documents on the SEDAR website, at www.sedar.com.
SPIRIT RESOURCES SARL
"Edmond Van de Kelft"