VANCOUVER, British Columbia--(BUSINESS WIRE)-- Chalice Diamond Corp. (TSX-V:COD.v - News) (the “Company”) plans to complete a private placement of up to $1,025,000 through the sale of approximately 3,500,000 non-flow through units and 2,500,000 flow through units. The units will be priced at $0.15 per non-flow through and $0.20 per flow through unit. Each unit will consist of either one flow-through, or non-flow through common share and one half of one non-transferable share purchase warrant entitling the holder to purchase one additional non flow through share for two years at a price of $0.30 per share.
In accordance with Exchange policies, finders’ fees may be paid on a portion of the funds raised. The private placement is subject to regulatory approval.
Proceeds from the private placement will be used for exploration expenditures on the Company’s Ontario properties as well as for general working capital.
The company also announces the resignation of Lynn Evoy from the Board of Directors effective April 27, 2011. Mr. Steve Chan has been appointed to this vacant position. Mr. Chan was formerly Vice-President of Cambridge House International Inc. where he significantly contributed to the success of Canada's leading resource industry investment conference company. He has a vast network of contacts within the mining industry and will assist Chalice Diamond Corp with financings and public relations. Mr. Chan is also a director of Expedition Mining Inc. and Kermode Resources Ltd., both public companies trading on the Toronto Venture Exchange.
The Company also announces it has granted 750,000 stock options to all directors and officers of the Company and 75,000 stock options to employees and consultants at a price of $0.15 per share for a period of seven years.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
