Diamcor Closes First Tranche of Revised Oversubscribed Private Placement

Diamcor Mining Inc. has announced the closure of the first $1.406 million tranche of its non-brokered private placement. This follows Conditional Acceptance from the TSX Venture Exchange on May 22, 2024. The company now expects an oversubscription and has increased the original offering amount from $1.5 million to $2.5 million, with a final tranche expected to close by June 15, 2024. Insiders have subscribed for $600,000 in the first tranche.

The first tranche consists of 28,120,000 units at CND $0.05 per unit. Each unit includes one Class "A" Common share and one non-transferable share purchase warrant. Warrants entitle holders to acquire one additional share at CND $0.075 within 36 months.

Proceeds will fund the advancement of Diamcor's Krone-Endora at Venetia Project, ongoing work programmes, and potential acquisitions. All placements require regulatory approval and securities are subject to a hold period until October 5, 2024.