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Health and Fitness
Health and Fitness
Tue, December 1, 2009
Mon, November 30, 2009
Fri, November 27, 2009
Thu, November 26, 2009 
VAL-D'OR, QUEBEC--(Marketwire - Nov. 26, 2009) - Dianor Resources Inc. (TSX VENTURE:DOR) announces that it has completed a private placement by issuing an aggregate of 8,292,138 "flow-through" units to accredited investors in Saskatchewan and Nova Scotia and to three limited partnerships associated with MineralFields Group of Toronto, Ontario at a price of $0.07 per unit, for gross proceeds to Dianor of $580,449.66.
Each 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 November 25, 2011.
In connection with the closing of the private placement, Dianor paid finders' fees to Limited Market Dealer Inc. and Industrial Alliance Securities Inc. in an aggregate amount of $44,000, representing 8% of the gross proceeds raised through them in the private placement. Dianor also issued compensation options to Limited Market Dealer Inc. entitling it to purchase up to 628,571 units of Dianor, representing 8% of the number of units sold in the private placement through Limited Market Dealer Inc. The compensation options are exercisable at a price of $0.07 per unit for a period of two years. Each unit will be comprised of one common share of Dianor and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share of Dianor at a price of $0.105 per share until November 25, 2011.
The proceeds from the private placement will be used for exploration on Dianor's properties in Quebec and Ontario. As a result of the closing of the private placement, there are 211,119,675 common shares of Dianor issued and outstanding.
Under applicable securities legislation and the policies of the TSX Venture Exchange, all of the foregoing securities are subject to a hold period expiring on March 26, 2010.
About Dianor
Dianor is an innovative exploration company focused on advancing diamond exploration properties in the Superior Craton of Canada. The Leadbetter Diamond Project, our 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 (press release January 18th 2007). A preliminary tonnage estimate for this conglomerate is in the range of 549 million to 583 million tones (press release July 24th 2007). Additional diamond discoveries including rare purple diamonds were made in 2008 by the Company in rocks of similar type, age (Archean) and geological settings (press release March 3rd, April 10th & May 13th 2008) in Quebec. The 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.
About MineralFields, Pathway and First Canadian Securities ®
MineralFields Group (a division of Pathway Asset Management), based in Toronto, Calgary and Vancouver, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at [ www.mineralfields.com ]. First Canadian Securities ® (a division of Limited Market Dealer Inc.) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities ®.
You can also visit our Web Site: [ www.dianor.com ]
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to United States Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
This news release is not for distribution to United States newswire services or for dissemination in the United States.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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