April 12, 2010 (FinancialWire) — Diadem Resources Ltd. (TSX Venture: DRL) said it has closed a private placement to raise $100,000 through the sale of 1,818,182 Units at $0.055 per Unit.

Each unit issued is comprised of one common share of the company and one common share purchase warrant. Each warrant is exercisable to acquire one Common Share of the company at an exercise price of $0.10 within the first year of closing and $0.20 within the second year of closing.

All securities issued are subject to a minimum hold period of four months from the date of issuance, according to Diadem.

As a result of this closing, the company currently has outstanding 36,762,829 common shares. Diadem added that, on a fully-diluted basis and after giving effect to the exercise of all outstanding share purchase warrants and incentive stock options granted under its stock option plan the company has 56,071,011 common shares outstanding.

Canada-based Diadem is focused on acquiring near-production mining opportunities in North America, especially those related to diamonds and gold. Its principal current activity is diamond exploration in the Franklin Bay area of the Northwest Territories.

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

[hlmsmlh] [mnngmrls] [cndnexh] [fnncngj]

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.