Shares Issued and Outstanding: 49,602,714
KELOWNA, BC, Oct. 24, 2016 /CNW/ - Diamcor Mining Inc. (TSX-V.DMI / OTCQX-DMIFF), ("Diamcor" or "the Company")
Diamcor is pleased to announce that, subject to regulatory approval, it has retained Mackie Research Capital Corporation ("Mackie") to initiate its market making service to provide market making services to the Company in compliance with the policies and guidelines of the TSX Venture Exchange (the "TSXV") and other applicable legislation. Mackie will trade shares of Diamcor on the TSXV for the purposes of maintaining a reasonable market and improving the liquidity of Diamcor's common shares.
The agreement between Mackie and the Company is for a minimum one year term and the Company has agreed to pay Mackie $3,000 per month during the term, payable quarterly in advance. After the one year period, the engagement may be terminated by either party with written notice of 60 days. The Company and Mackie act at arm's length, but Mackie may provide investment banking services to Diamcor and Mackie and/or its clients may have an interest, directly or indirectly, in the securities of Diamcor. The agreement is principally for the purposes of maintaining market stability and liquidity for the Company's common shares and is not a formal market making agreement. There are no performance factors contained in the agreement between Mackie and the Company and Mackie will not receive any shares or options from the Company as compensation for services it will render.
About Mackie Research Capital Corporation
Mackie is one of Canada's largest independent full service investment firms, and proudly traces its roots back to 1921. Mackie is privately owned by many of its 300 employees. As a fully integrated national investment dealer, Mackie offers a full complement of capital markets and wealth management services to private clients, institutions and growth companies.
About Diamcor Mining Inc.
Diamcor Mining Inc. is a fully reporting publically traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, and on the OTC QX International under the symbol DMIFF. The Company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market.
On behalf of the Board of Directors
SOURCE Diamcor Mining Inc.
For further information: Mr. Dean H. Taylor, President & CEO, Diamcor Mining Inc., DTaylor@diamcormining.com, Tel (250) 864-3326, www.diamcormining.com