/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
Trading Symbol: TAH
TORONTO, April 17 /CNW/ - Tahera Diamond Corporation (TSX:TAH) (the
"Company") announced that it has closed its previously announced public
offering (the "Offering") of 22,500,000 units ("Units") at a price of
$1.00 per Unit for aggregate gross proceeds to the Company of $22,500,000.
Each Unit consisted of one common share of the Company (a "Common Share") and
one-half of one common share purchase warrant (each whole common share
purchase warrant, a "Warrant"). Each Warrant will entitle the holder to
acquire one additional Common Share on or before April 17, 2009 at an exercise
price of $1.40 per Common Share.
The Units were sold through a syndicate of underwriters led by GMP
Securities L.P. and included National Bank Financial Inc., Paradigm Capital
Inc., TD Securities Inc. and Westwind Partners Inc. (collectively, the
The Company has granted the Underwriters an over-allotment option to
purchase up to that number of additional Common Shares and half-Warrants equal
to 15% of the Units sold pursuant to the Offering, exercisable at any time up
to 30 days from the closing of the Offering.
The Company intends to use the net proceeds of the Offering for operating
costs of the Jericho Diamond Mine, the payment of existing trade payables and
for general working capital.
As disclosed in the (final) short form prospectus relating to the
Offering, the Company also announces that Grant Ewing, Executive Vice
President, Corporate Development, has advised of his intention to step down
from his position at the Company to pursue other business interests. The
Company is grateful to Mr. Ewing for his contribution to the growth and
development of Tahera Diamond Corporation. He will remain with the Company
until April 30, 2007 and his duties will be assigned to existing executives
for the time being.
Tahera Diamond Corporation (www.tahera.com) is a unique Canadian diamond
company. Tahera's primary asset is its wholly-owned Jericho Diamond Mine,
which represents Canada's third and Nunavut's first diamond mine. Tahera's
exploration strategy is focused on increasing reserves in the area that is
within trucking distance of the Jericho mine-site, and advancing the Company's
other prospective diamond projects in Canada.
Certain statements contained in this news release constitute
forward-looking statements. Such forward-looking statements involve a number
of known and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of the Company's plans to
differ materially from any future results, performance or achievements
expressed or implied by such forward-looking statements. Readers are cautioned
not to place undue reliance on these forward-looking statements, which speak
only as of the date the statements were made, and readers are advised to
consider such forward-looking statements in light of the risks set forth in
the Company's Annual Information Form dated March 30, 2007, a copy of which is
available at www.sedar.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy any securities in the United States. The
securities have not been registered under the U.S. Securities Act of 1933 and
may not be offered or sold in the United States absent registration or an
exemption from the registration requirements of the U.S. Securities Act of
For further information:
For further information: Investor Relations, Tel: (416) 777-1998, Fax:
(416) 777-1898, Toll free: (877) 777-2004, Email: