Diamond Fields International Ltd., further to its
default status report reported in Stockwatch news Oct. 26, 2006, filed on Oct. 27,
2006, its annual audited financial statements and management’s discussion and
analysis for its fiscal year ended June 30, 2006, and on Oct. 31, 2006, the
company filed its annual information form for such period. As a result, the
management cease trade orders issued by the British Columbia Securities
Commission and the Ontario Securities Commission were revoked on Nov. 1
and Nov. 2, 2006, respectively.
In connection with the previously
announced standby guarantee agreement between the company and Spirit Resources
SARL, Spirit has advanced to the company an additional
$1.2-million, for a total of $1.7-million finances advanced to date, to be
applied toward Spirit’s participation in the proposed rights offering of the company. Such advance will, pending completion of the rights offering,
constitute a non-interest-bearing loan from Spirit to the company (see Stockwatch news Sept. 1, 2006, for further
details on the standby guarantee agreement and Spirit’s participation in the
rights offering).
With the receipt of the additional finances from Spirit, the company is
completing the dry docking, maintenance and repair of the mv DF Discoverer, and
its return to service is imminent.
