Chalice Diamond Closes Private Placement
Vancouver, June 23, 2011 – Chalice Diamond Corp. – COD:TSX-V
(“Chalice” or the
“Company”) announces that further to the Company’s news release dated June 16, 2011 the
Company received TSX-V approval on June 23, 2011 and closed its private placement with
4,303,330 NFT units (the “NFT units”) and 3,180,000 flow-through units (the “FT units”) for
gross proceeds of $1,281,499.50. A finders’ fees of $108,500 was paid from the proceeds.
Each NFT unit and FT unit consisted of one common share and one-half of one nontransferable
common share purchase warrant. Each full warrant entitles the holder to purchase
one additional non flow-through common share of the company at an exercise price of $0.30 for
two years from the date of issue of the warrant.
All securities issued will be subject to a four month hold period. Proceeds from the flow-through
portion of the placement will be applied to Chalice’s exploration expenditures on the Company’s
Canadian properties and the proceeds from the non flow-through portion of the placement will
be applied to general working capital.
For further information contact:
Rasool Mohammad, President & CEO
Phone: (604) 685-2222
Email:
info@chalicediamond.com
