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STAR DIAMOND CORPORATION ANNOUNCES FINANCING WITH SPIRIT RESOURCES s.a.r.l.
Star Diamond Corporation (the "Company") (TSX: DIAM) is pleased to announce that it has entered into a convertible loan agreement (the "LoanAgreement") with Spirit Resources s.a.r.l. ("Spirit") to provide funding to the Company by way of an unsecured loan in the principal amount of C$500,000 (the "Loan"). The proceeds of the Loan will be used for working capital and general corporate purposes.
About this update from Star Diamond Corporation
/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES/ TSX: DIAM SASKATOON, SK, April 29, 2026 /CNW/ - Star Diamond Corporation (the "Company") (TSX: DIAM) is pleased to announce that it has entered into a convertible loan agreement (the "Loan Agreement") with Spirit Resources s.a.r.l. ("Spirit") to provide funding to the Company by way of an unsecured loan in the principal amount of C$500,000 (the "Loan"). The proceeds of the Loan will be used for working capital and general corporate purposes. The Loan bears interest at a rate of 12% per annum and matures one year after the drawdown date of April 28, 2026 (the "Drawdown Date"), or such other date mutually agreed between the Company and Spirit (the "Maturity Date"). The Loan, together with accrued and unpaid interest thereon (the "Total Obligations") are generally repayable at any time by the Company without penalty. If the Company has not repaid the Total Obligations before the closing of a sale of common shares in the capital of the Company ("Common Shares"), or units including Common Shares, in a single or series of transactions of no less than C$1,000,000 (a "Qualified Financing") prior to the Maturity Date, the Total Obligations will be converted into the securities of the Company issued pursuant to the Qualified Financing ("Qualified Financing Securities") upon closing of the Qualified Financing (the "Conversion"), unless otherwise agreed between the Company and Spirit. The deemed price per Qualified Financing Security issuable upon Conversion will be the lowest price per Qualified Financing Security issued in the Qualified Financing, subject to customary adjustment provisions (the "Conversion Price"). The Conversion is conditional upon receipt of the approval of the Toronto Stock Exchange. Spirit is a Luxembourg-based private investment corporation that is ultimately owned and controlled by Jean-Raymond Boulle. Immediately prior to the execution of the Loan Agreement, Spirit beneficially owned and controlled 194,455,143 Common Shares and 133,333,333 warrants to purchase Common Shares ("Warrants"), representing approximately 25.13% of the issued and outstanding Common Shares on a non-diluted basis and 36.13% on a partially-diluted basis, assuming the exer...
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