Key points
- Spirit Resources SARL, controlled by Jean-Raymond Boulle, purchased 41,907,000 Diamond Fields International common shares at one cent per share via private placement.
- Boulle now beneficially owns and controls 141,252,432 DFI common shares, representing 78.4 percent of the issued and outstanding shares on a non-diluted basis.
- Boulle also holds warrants for up to eight million DFI shares exercisable at 10 cents per share until May 14, 2016.
- On a diluted basis, including exercise of the warrants, Boulle’s holdings would represent 79.3 percent of DFI’s shares.
Spirit Resources SARL has purchased 41,907,000 common shares of Diamond Fields International Ltd. at one cent per share pursuant to a private placement. Spirit is controlled by DFI’s major shareholder, Jean-Raymond Boulle.
After giving effect to the acquisition of the shares, Mr. Boulle beneficially owns and controls, directly and indirectly, the following securities of DFI: (i) 141,252,432 DFI common shares, representing 78.4 per cent of DFI’s issued and outstanding common shares on a non-diluted basis; and (ii) warrants exercisable to purchase up to eight million DFI common shares at a price of 10 cents per share until May 14, 2016. On a diluted basis, the securities (assuming exercise of the warrants) would represent 79.3 per cent of DFI’s then issued and outstanding common shares.
The shares will be held for investment purposes. Mr. Boulle may, depending on market and other conditions, increase or decrease his beneficial ownership of DFI securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investments and business opportunities.
This press release is issued pursuant to National Instrument 62-103, the Early Warning System and Related Takeover Bids and Insider Reporting Issues, which also requires that a report be filed containing additional information with respect to the foregoing matters. A copy of the early warning report will appear with DFI’s documents on SEDAR.
