BRC Diamond Announces Financing


    TORONTO, March 13 /CNW/ - BRC Diamond Corporation (the "Company" or
"BRC") (TSX-V - "BRC") announces that it has negotiated a non-brokered arm's
length private placement of up to 1,000,000 common shares of the Company at a
price of Cdn$5.00 per share for proceeds to the Company of up to Cdn$5,000,000
(the "Financing"). Closing of the Financing is subject to the approval of the
TSX Venture Exchange. Proceeds from the Financing will be added to the
Company's working capital.
    The securities offered have not been registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or any applicable exemption from the
registration requirements. This press release does not constitute an offer to
sell or the solicitation of an offer to buy nor will there be any sale of the
securities in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful.
    BRC is a Canadian-based diamond exploration company active principally in
the Democratic Republic of the Congo (the "DRC"). Led by a management team
with extensive experience in the DRC, the Company is active in some of the
most prospective diamond regions of the country. Banro Corporation, the
Company's largest shareholder with approximately a 30% interest in BRC, is a
mineral exploration company focused on the DRC.

    This press release contains forward-looking statements. All statements,
other than statements of historical fact, that address activities, events or
developments that the Company believes, expects or anticipates will or may
occur in the future (including, without limitation, statements regarding the
closing of the Financing and future plans of the Company) are forward-looking
statements. These forward-looking statements reflect the current expectations
or beliefs of the Company based on information currently available to the
Company. Forward-looking statements are subject to a number of risks and
uncertainties that may cause the actual results of the Company to differ
materially from those discussed in the forward-looking statements, and even if
such actual results are realized or substantially realized, there can be no
assurance that they will have the expected consequences to, or effects on the
Company. Factors that could cause actual results or events to differ
materially from current expectations include, among other things, changes in
equity markets, political developments in the DRC, changes to regulations
affecting the Company's activities, uncertainties relating to the availability
and costs of financing needed in the future, the uncertainties involved in
interpreting exploration results and the other risks involved in the mineral
exploration business. Any forward-looking statement speaks only as of the date
on which it is made and, except as may be required by applicable securities
laws, the Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information, future
events or results or otherwise. Although the Company believes that the
assumptions inherent in the forward-looking statements are reasonable,
forward-looking statements are not guarantees of future performance and
accordingly undue reliance should not be put on such statements due to the
inherent uncertainty therein.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this press release.

For further information:

For further information: Arnold T. Kondrat, Executive Vice President, or
Martin D. Jones, Vice President, Corporate Development, at (416) 366-2221

Organization Profile

BRC DiamondCore Ltd.

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