Key points
- The company issued 3,930,000 shares to raise gross proceeds of $20,789,700.
- Nomura International plc acted as lead underwriter for an international syndicate of underwriters.
- Proceeds will fund commissioning of mining later this year and future exploration in the company’s marine concessions and in Angola.
- The company is set to commission production from its Luderitz Bay grant, targeting 150,000 carats of diamonds per year.
The company has officially completed the issue of 3,930,000 shares to raise gross proceeds of $20,789,700.
Nomura International plc acted as lead underwriter for an international syndicate of underwriters.
Proceeds will be applied to the commissioning of mining later this year. In addition, funds will be allocated to future exploration programs in the company’s marine concessions and in Angola.
The transaction was structured as a multi-jurisdictional offering with the prospectus being filed in both Canada and the US.
The company is set to commission production from its Luderitz Bay grant with a target diamond output of 150,000 carats per year.
