pDianor Resources Inc. (TSX VENTURE:DOR) has completed a private placement by issuing an aggregate of 5,743,332 low-through units to accredited investors in Quebec and Ontario at a price of $0.075 per unit, for gross proceeds to Dianor of approximately $430,750./p
pEach unit consists of one flow-through common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share of Dianor at a price of $0.105 until February 25, 2011 and, thereafter, at a price of $0.15 until February 25, 2012./p
pIn connection with the closing of the private placement, Dianor paid finders fees to registered persons in a total amount representing 8% of the gross proceeds from the sale of the flow-through units through them./p
pThe proceeds from the private placement will be used for exploration on Dianors properties in Quebec and Ontario. As a result of the closing of the private placement, there are currently 216,863,007 common shares of Dianor issued and outstanding./p
pUnder applicable securities legislation and the policies of the TSX Venture Exchange, all of the foregoing securities are subject to a hold period expiring on June 26, 2010./p
pAbout Dianor/p
pDianor is an innovative exploration company focused on advancing diamond exploration properties in the Superior Craton of Canada. The Leadbetter Diamond Project, its flagship and most advanced exploration project, is geographically well situated and easily accessible, some 12 kilometres north east of Wawa in Northern Ontario. Substantial exploration work has been conducted on the property since 2005 where diamonds, gold, sapphires and rubies are present in 2.697 Ma old Archean Conglomerates./p
pThe Quebec diamond properties have increased our portfolio of low cost, accessible exploration targets. These diamond discoveries (Ontario and Quebec) are both unique and amongst the oldest diamond bearing occurrences in the world./p
