Diamcor Receives Approval from the TSX Venture Exchange on Warrant Amendments
Diamcor Mining Inc. (DMIFF) announced the approval of warrant repricing and expiration extension by the TSX Venture Exchange on August 6, 2021. This follows a prior announcement on June 4, 2021. The company has a strategic alliance with Tiffany & Co., allowing Tiffany to purchase up to 100% of future rough diamond production from the Krone-Endora at Venetia Project. Diamcor's Krone-Endora Project is adjacent to De Beers' Venetia Diamond Mine, with identified deposits that could enable low-cost mining operations.
- Approval of warrant repricing and expiry extension which can enhance liquidity and financial stability.
- Strategic alliance with Tiffany & Co. to potentially secure long-term sales.
- None.
KELOWNA, BC / ACCESSWIRE / August 6, 2021 / Diamcor Mining Inc. (TSXV:DMI)(OTCQB:DMIFF), ("Diamcor" or, the "Company") announced today that the repricing of the outstanding warrants and extension of the expiry date detailed in the Company's news release dated June 4, 2021, has been approved by the TSX Venture Exchange.
About Diamcor Mining Inc.
Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, and on the OTC QB International under the symbol DMIFF. The Company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market.
About the Tiffany & Co. Alliance
The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous New York based Tiffany & Co., to purchase up to
About Krone-Endora at Venetia
In February 2011, Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers' flagship Venetia Diamond Mine in South Africa. On September 11, 2014, the Company announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project's total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade "Alluvial" basal deposit which is covered by a lower-grade upper "Eluvial" deposit. The deposits are proposed to be the result of the direct-shift (in respect to the "Eluvial" deposit) and erosion (in respect to the "Alluvial" deposit) of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur in two layers with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine.
Qualified Person Statement:
Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor's exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta ("APEGA"). Mr. Hawkins has reviewed this press release and approved of its contents.
On behalf of the Board of Directors
Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
www.diamcormining.com
For further information contact:
Mr. Dean H. Taylor
Diamcor Mining Inc
DeanT@Diamcor.com
+1 250 862-3212
Mr. Rich Matthews
Integrous Communications
rmatthews@integcom.us
+1 (604) 355-7179
This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company's ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.
WE SEEK SAFE HARBOUR
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Diamcor Mining Inc.
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https://www.accesswire.com/658823/Diamcor-Receives-Approval-from-the-TSX-Venture-Exchange-on-Warrant-Amendments
FAQ
What does the warrant repricing by Diamcor Mining Inc. mean for investors?
What is the significance of the alliance with Tiffany & Co. for DMIFF?
How does the Krone-Endora Project impact Diamcor Mining Inc.'s operations?
