Diamond International Exploration Inc. (TSX-V: DIX) has received the final approval for the purchase and sale discussed in the agreement with Armex Mining Corp. and the concurrent private placement from the TSX Venture Exchange.
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Pursuant to the acquisition, the company will acquire several diamond properties. The properties are located in proximity to the town of Juina in the state of Mato Grosso, Brazil and two other properties in the Rio Arinos and Rio Pari river valley about 170km north of the city of Cuiaba in consideration for a $2.5 million payment.
The company also received approval for its private placement consisting of 25,600,000 units for $0.10 per unit. Each unit contains 1 common share and 1 five-year common share purchase warrant. A warrant enables the units holder to purchase an additional common share for $0.15.
Diamond International Exploration Inc. is an exploration stage junior mining company focused on identification, acquisition and evaluation of diamond- prospective mineral properties in Brazil and Canada. Mr. C. Stewart Wallis, P.Geo, is the Qualified Person as defined by National Instrument 43-101 for this project.
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