Diamond Fields Issues Shares Pursuant to Purchase Agreement for Beravina Zircon Deposit in Madagascar
07.09.2016 | Accesswire
VANCOUVER, September 7, 2016 - Diamond Fields International Ltd. (TSXV: DFI) is pleased to announce that on August 25, 2016 it received acceptance from the TSX Venture Exchange to an Agreement among the Company, its wholly owned subsidiary Kimberley Overseas ("Kimberley"), Pala Investments Limited ("Pala") and Austral Resources Limited ("Austral") for the acquisition from Pala and Austral through Kimberley of 100% of the issued shares of Action Mining Limited ("Action"), a Mauritius company and the parent company of the Madagascar entity holding the license to the Beravina Zircon Deposit in Madagascar (see News Release August 15, 2016).In accordance with the terms of the Agreement, on September 6, 2016 the Company issued a total of 3,265,650 common shares in its capital stock at a deemed value of $0.02 per share to Pala. These shares are subject to a hold period under applicable Canadian securities laws expiring January 7, 2017.
DIAMOND FIELDS INTERNATIONAL LTD.
SIGNED: "Earl Young"
Earl Young, Chief Financial Officer
Contact:
Earl Young
+1 214 566 3709
Website: www.diamondfields.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Diamond Fields International Ltd.