Dianor Completes Closing of CDN$176,669 Draw Down Under Equity Line of Credit
Dianor Resources Inc. has completed a previously-announced (press releases February 28th 2011 and March 7th 2011) draw down of $176,669 under its equity line of credit with Kodiak Capital Group, LLC by issuing 3,533,380 common shares at a price of $0.05 per share. In addition, as previously announced, Dianor issued 91,603 shares in partial consideration for the equity line of credit.
Dianor will file a prospectus supplement with the applicable Canadian securities authorities qualifying the shares to be issued to Kodiak. When filed, the prospectus supplement will be available under Dianor’s company profile on SEDAR at www.sedar.com. Dianor’s base shelf prospectus dated September 13, 2010 is currently available on SEDAR.
Dianor also announces that it has received a statement of claim from the vendors of the Leadbetter property for the recovery of possession of diamonds recovered from the property prior to Dianor’s acquisition of all the mineral interests in respect of the property in November 2008 or damages in the amount of $250,000. Dianor is currently examining its rights, including the opportunity to file an appearance before the Ontario Superior Court of Justice.
