Spirit Resources SARL Increases its Holding of Common Shares of Diamond Fields International Ltd. From 71.9% to 78.4%
Grande Duche de Luxembourg / TheNewswire / January 11, 2016 - Spirit Resources SARL ("Spirit" or the "Company"), announces that it has purchased 41,907,000 common shares ("Shares") of Diamond Fields International Ltd. ("DFI") at Cdn$0.01 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 (collectively, the "Securities"): (i) 141,252,432 DFI common shares representing 78.4% of DFI's issued and outstanding common shares on a non-diluted basis; and (ii) warrants exercisable to purchase up to 8,000,000 DFI common shares at a price of $0.10 per share until May 14, 2016 (the "Warrants"). On a diluted basis, the Securities (assuming exercise of the Warrants) would represent 79.3% 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 Take-Over Bids and Insider Reporting Issues, which also requires that a report be filed containing additional information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with DFI's documents on the SEDAR website, at www.sedar.com.
SPIRIT RESOURCES SARL
SIGNED: "Audrey Richardson"
Audrey Richardson, Director
For further information, contact Mrs. Audrey Richardson
Tel: +352 222 512 Fax: +352 222 413
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