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Shares issued and outstanding: 166,232,179
TORONTO and LONDON, March 23 /CNW/ - SouthernEra Diamonds Inc.
("SouthernEra" or "the Company") (TSX: SDM-T; AIM: SRE-L) today announced that
RBC Capital Markets has been retained to act as the Company's financial
advisor in relation to the recent announcement by Mwana Africa Plc ("Mwana")
(AIM: MWA-L) of their intention to make an offer (the "Mwana Proposal") to
acquire all of the shares of SouthernEra in exchange for shares of Mwana. RBC
Capital Markets will also advise the Company of strategic alternatives to the
Mwana Proposal. SouthernEra has also retained Fraser Milner Casgrain LLP to
act as its legal counsel in relation to these matters. The board of directors
of SouthernEra has directed the Special Committee of the board to lead the
review of the Mwana Proposal and strategic alternatives open to SouthernEra.
SouthernEra Diamonds is one of Canada's fully integrated diamond
companies with extensive alluvial and kimberlite diamond exploration in the
DRC as well as other countries including Canada and South Africa. The Company
also holds the Klipspringer Diamond Mine in South Africa and maintains an
18 percent free-carried interest in the Camafuca Diamond Project in Angola.
For further information:
For further information: SouthernEra Diamonds Inc., Mr. Chris Reynolds,
SVP and CFO, Telephone: (416) 359-9282, Fax: (416) 359-9141, E-mail:
email@example.com, www.southernera.com; London: 4C-Burvale, Carina
Corbett, Director, Telephone: ++44 (0) 20-7559-6710, Fax: ++44 (0)
20-7559-6701, Email: Corbett@4c-burvale.co.uk