Diamond Fields International Ltd. has arranged short-term debt financing of $290,000 (U.S.) with Spirit Resources SARL, its largest shareholder. Interest on the funds shall accrue at 6 per cent per annum. The loan is unsecured and matures Dec. 31, 2014. Approximate use of proceeds will be as follows:
$130,000 for audit fees, corporate services, administration, rent and legal;$75,000 for exploration and development, including registrations and licensing;$85,000 for general working capital.
- $130,000 for audit fees, corporate services, administration, rent and legal;
- $75,000 for exploration and development, including registrations and licensing;
- $85,000 for general working capital.
