DOR Dianor Resources Inc.

Dianor Resources Inc. (TSX VENTURE: DOR) (OTCQX: RSDNF) announces that it will issue 3,533,380 common shares to Kodiak Capital Group, LLC in connection with Dianor's previously-announced draw down of $176,669 under its equity line of credit with Kodiak Capital (press release February 28, 2011).

The shares will be issued at a deemed price of $0.05 per share, representing the "Minimum Price" in compliance with the policies of the TSX Venture Exchange.

As previously announced (press releases September 27, 2010), Dianor will issue 91,603 shares to Kodiak in consideration for the equity line of credit at the closing. Closing of the draw down is expected to take place no later than March 9, 2011.

Dianor will file a prospectus supplement with the applicable Canadian securities authorities qualifying the shares to be issued to Kodiak. When filed, the prospectus supplement will be available under Dianor's company profile on SEDAR at www.sedar.com. Dianor's base shelf prospectus dated September 13, 2010 is currently available on SEDAR.

About Kodiak Capital Group, LLC

Kodiak Capital Group, LLC is engaged in assisting growth companies in all facets of their long term strategy by providing capital and progressive business solutions. Kodiak manages a portfolio of investments in public and private equities. Founded in 2009, Kodiak has already transacted in excess of $500 million in financing for companies across a multitude of industries, including biotechnology, business services, consumer products, defense, healthcare, Internet, manufacturing, medical devices, natural resources, oil and gas, renewable energy and wireless communications. Headquartered in New York City, Kodiak has assisted companies throughout North America and Australia.

More information can be found at: www.kodiak-capital.com

About Dianor

Dianor is an innovative exploration company focused on advancing diamond exploration properties in the Superior Craton of Canada. The Leadbetter Diamond Project is its most advanced project and is geographically well situated and easily accessible, some 12 kilometres north east of Wawa in Northern Ontario. Substantial exploration work has been conducted on the project since 2005 and in May 2009, the Company received government approval to proceed with a 50,000 tonne bulk sampling programme of the 2.697 Ma old Archean Conglomerate. A preliminary tonnage estimate for this conglomerate is in the range of 549 million to 583 million tonnes (press release July 24th 2007). In addition to diamonds, the conglomerate contains gold, sapphires and rubies (press release January 18th 2007). In 2008, additional diamond discoveries, including rare purple diamonds, were made by the Company in rocks of similar type, age (Archean) and geological settings (press release March 3rd, April 10th,& May 13th 2008) in Quebec. The Quebec diamond properties have increased our portfolio of low cost, accessible exploration targets. These diamond discoveries (Ontario and Quebec) are both unique and amongst the oldest diamond-bearing occurrences in the world.

You can also visit our Web Site: www.dianor.com

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States or to United States Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Forward-Looking Statements

This news release contains statements that may constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable securities legislation. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of Dianor Resources Inc. ("Dianor"). Actual results or achievements may differ materially from those expressed in, or implied by, this forward-looking information. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that Dianor will derive therefrom. Forward-looking information is based on the estimates and opinions of Dianor's management at the time the information is released and Dianor does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts: Dianor Resources Inc. Mr. John Ryder, P. Geo. President 819-825-7090 819-825-7545 (FAX) info@dianor.com Dianor Resources Inc. Mr. Daniel Duval Chairman of the Board 819-825-7090 819-825-7545 (FAX) info@dianor.com Resultz Media Group Corp. Mr. Tyler M. Troup, B.Comm Senior Associate - RMG IR 877-301-9748 519-979-7820 (FAX) Tyler@thinkRMG.com

Dianor Resources Inc. (TSXV:DOR)
Historical Stock Chart
Von Mai 2024 bis Jun 2024

Dianor Resources Inc. (TSXV:DOR)
Historical Stock Chart
Von Jun 2023 bis Jun 2024