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Pangolin Raises $428K in a Private Placement

Oct 29, 2014 12:46 PM   By Jeff Miller
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RAPAPORT... Pangolin Diamonds Corp. closed  a non-brokered private placement round of financing for aggregate gross proceeds of $427,916, consisting of 7,131,940 units at 6 cents each.  Each unit consists of one common share in the capital of Pangolin  and one common share purchase warrant, whereas each warrant entitles the holder  to acquire one common share at 12 cents for a period of two years. Company insiders participated in the placement to the tune of $83,216.

Funds will be applied to Pangolin's drilling, geological-geophysical and sampling programs that are underway at diamond projects in Botswana, as well as for general working capital purposes, according to the filing. The offering is subject to final regulatory approval. 

Tags: Diamond mining, diamonds, Jeff Miller, pangolin, private placement
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