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Diamcor seeks extension of convertible loan financing

18 november 2020
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Image credit: Diamcor Mining


Diamcor Mining has applied to the TSX Venture Exchange for an extension of time to complete the balance of the convertible loan financing.
The company announced towards the end of September that it intended to complete a convertible loan financing of up to C$3,5 million for general corporate purposes, the resumption of operations, and the continued advancement of the work programmes previously underway before the COVID-19 related shut down at the Krone-Endora at Venetia Project, in South Africa.
Diamcor then reported last month that it had closed an initial tranche of the convertible loan financing, which included subscriptions from five investors for aggregate gross proceeds of $954,500.
The requested extension was subject to TSX Venture Exchange approval.  
Diamcor said it expects to be in a position to complete the second and final tranche of the financing on or before December 15, 2020.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished