Diadem Announces Agreement Relating to the Issuance of Shares for Debt
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwire) -- 08/08/12 -- Diadem Resources Ltd. (TSX VENTURE: DRL)("Diadem") announces that it has entered into a settlement and shares-for-debt agreement (the "Agreement") with a former Officer and Director of Diadem (the "Former Officer") to settle legal claims aggregating $219,670 (plus claimant's potential legal fees).
Pursuant to the Agreement, and subject to approval from the TSX Venture Exchange ("Exchange"), Diadem proposes to issue 2,500,000 common shares (at a deemed share price of $0.0878 per share) to the Former Officer in full and final settlement of the debt owed to the Former Officer (which is in respect of a loan provided to Diadem by the Former Officer).
All securities issued to the Former Officer are subject to a minimum hold period of four (4) months and one day from the date of issuance.
Inclusive of the aforementioned issuance, Diadem would have issued and outstanding 50,008,848 common shares and, on a fully-diluted basis, Diadem would have 57,450,515 common shares outstanding.
Additional information about Diadem Resources Ltd. may be found on its web page () and under Diadem's profile on .
Cautionary Statement
This press release may contain certain forward-looking statements with respect to the Company. These forward-looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those contemplated. We consider the assumptions on which these forward-looking statements are based to be reasonable, but caution the reader that these assumptions regarding future events, many of which are beyond our control, may ultimately prove to be incorrect. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are various risks detailed from time to time in the filings made by the Company with securities regulators.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and accuracy of this release.
Contacts:
Diadem Resources Ltd.
Aime Bertrand
Chairman and Chief Executive Officer
514-954-1010
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Datum: 08.08.2012 - 12:22 Uhr
Sprache: Deutsch
News-ID 1140686
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