By Sheri Kasprzak
New York, Jan. 26 - SouthernEra Diamonds Inc. said it has completed a C$9,410,400 private placement with BHP Minerals Holdings Pty. Ltd.
BHP bought 15,684,000 shares at C$0.60 each.
The shares represent roughly 12% of SouthernEra's outstanding common shares as of Jan. 3.
About half of the proceeds will be used for exploration on the company's diamond and mineral properties.
BHP purchased the interest in SouthernEra as part of its plan to acquire exploration option rights in the Democratic Republic of Congo. BHP may make additional investments in Southern Era.
Based in Vancouver, B.C., SouthernEra is a diamond and mineral exploration company.
| Issuer: | SouthernEra Diamonds Inc.
|
| Issue: | Stock
|
| Amount: | C$9,410,400
|
| Shares: | 15,684,000
|
| Price: | C$0.60
|
| Warrants: | No
|
| Investor: | BHP Minerals Holdings Pty. Ltd.
|
| Settlement date: | Jan. 25
|
| Stock symbol: | Toronto: SDM
|
| Stock price: | C$0.47 at close Jan. 25
|
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