TORONTO, Nov. 15 /CNW/ - Tahera Diamond Corporation announces today that
it has filed a preliminary short form prospectus in connection with a
distribution to its shareholders of rights exercisable to subscribe for units
each consisting of one common share of the Company and one-half of one warrant
(the "Rights Offering"). The Rights Offering is subject to receipt of all
regulatory approvals, including the approval of the Toronto Stock Exchange.
Each common shareholder will receive one right for each common share held
on the record date. The record date, the expiry date, the subscription price,
the number of rights required to purchase one unit (the "Basic Subscription
Privilege") and other terms of the Rights Offering will be determined prior to
the filing of a final short form prospectus. The Company will make a further
announcement with respect to these matters at the time of the filing of the
final short form prospectus.
Holders of rights who fully exercise their rights under the Basic
Subscription Privilege will be entitled to subscribe pro rata for additional
units, if available, not subscribed for initially, on or before the expiry
The net proceeds of the Rights Offering are intended to be used to fund
capital and operating expenditures of the Company in connection with
improvements at the Jericho Diamond Mine, winter road re-supply, existing
payables to supplier and for general working capital purposes.
GMP Securities L.P. has been appointed as dealer manager to assist in
connection with this Rights Offering.
Kingsdale Shareholder Services has been retained as Information Agent
regarding the Rights Offering. Within North America Kingsdale can be contacted
toll free at 1-866-588-6864 or by email: firstname.lastname@example.org.
Outside of North America Kingsdale can be reached by calling collect to
Further details can be found in the preliminary prospectus, which will be
available for review at www.sedar.com.
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
diamond purchase and marketing arrangement with Tiffany & Co., one of the
world's leading jewelers, ensures that the Company receives competitive market
prices for its Jericho diamonds.
Tahera Diamond Corporation
R. Peter Gillin - Chairman and CEO
For further information:
For further information: Investor Relations, Tel: (416) 777-1998, Fax:
(416) 777-1898, Toll free: (877) 777-2004, Email:
email@example.com, Website: www.tahera.com