News Column

Diatreme Resources Limited - Capital Raising

July 30, 2014



ENP Newswire - 30 July 2014

Release date- 29072014 - Diatreme Resources Limited is pleased to announce that it has executed agreements to subscribe for placements to the following parties.

Mr. Tse, an existing shareholder, to place 27,700,000 ordinary fully paid shares (to rank equally in all respects with existing shares) at 1.1 cents per share raising $304,700 before costs, and Mr. Chenxia Zhou, a new sophisticated investor, to place 50,000,000 ordinary fully paid shares (to rank equally in all respects with existing shares) at 1.2 cents per share, raising $600,000 before costs. These shares will also have 25,000,000 attaching options which are exercisable at 2.0 cents and expiring on 30 June 2016.

The above placements will be made under the Company's available capacity, and the funds will be applied to the Company's project activities and for working capital. In addition, the Company has received firm commitments from Ms Lai You, who is a related party of the Company's long standing Non-Executive Director, Mr. Andrew Tsang, to place 34,000,000 ordinary fully paid shares (to rank equally in all respects with existing shares) at 1.2 cents per share with 17,000,000 attaching options exercisable at 2.0 cents and expiring 30 June 2016.

These placements will be subject to shareholder approval. Application for quotation of the Placement Shares will be made to ASX Limited once the placement is finalized.

Contact:

Diatreme Resources Limited

Level 2 87 Wickham Terrace

Spring Hill QLD 4000

Tel: +61 (0)7 3832 5666

Fax: +61 (0)7 3832 5300

www.diatreme.com.au


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Source: ENP Newswire


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