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Karelian Diamond raises funds for Finland work

By BFN News | 11:40 AM | Friday 02 May, 2014


Karelian Diamond Resources (lon:kdr), the diamond exploration company focussed on Finland, announces that it has conditionally raised £725,000, before expenses, through a placing of 32,222,222 Ordinary shares at 2.25p with retail investors. The Company intends to use the net proceeds of the Placing primarily to implement and expand the Company's ongoing programmes at its various diamond prospects in Finland and for working capital generally. In addition, Professor Richard Conroy, S�©amus FitzPatrick, Maureen Jones and James P. Jones, directors of Karelian have today converted, in aggregate, £430,038 of accrued salaries and fees into 19,112,804 Ordinary Shares at 2.25 pence per share ("Conversion Shares") as follows. At 11:40am: (LON:KDR) Karelian Diamond Resources PLC share price was -0.32p at 2.28p Story provided by StockMarketWire.com

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