KELOWNA, May 2, 2013 – Diamcor Mining Inc.
(TSX-V.DMI), an emerging producer of rough diamonds, has engaged
the Liolios Group, Inc. to lead a new investor relations and
financial communications program.
“Over the past 24 months, we have successfully
completed the extensive infrastructure and capital upgrades for our
planned transition to full-scale production of quality
rough diamonds at our Krone-Endora at Venetia project which is
located directly adjacent to De Beers’ flagship Venetia diamond mine in South
Africa,” said Dean Taylor, president and CEO of Diamcor. “We have also established a
strategic alliance with Tiffany & Co., a name synonymous with
the highest quality of diamonds and jewelry, and who operates more
than 275 stores and boutiques around the world.”
“With our first sale of diamonds completed at the end
of 2012, we’ve demonstrated that Diamcor is one of the very few
companies in the world with the potential for near-term sustained
production of quality rough diamonds,” continued Taylor. “Given
this progress, and in conjunction with our planned transition to
24/7 operations, we’ve arrived at an important inflection point in
our development where we believe our shareholders would benefit
from an experienced team of investor relations professionals to
help us communicate our story to the financial
community.”
Liolios Group brings to Diamcor a proven track record
of helping companies build shareholder value by delivering the
right message to the right audience and establishing high quality,
long-term relationships in the investment community. They will work
closely with Diamcor’s management to refine and deliver the
Company’s message, and assist the Company in scheduling road shows
and financial conferences over the next several months.
To arrange for a call or meeting with management,
contact Justin Vaicek at Liolios Group:
Tel (949) 574-3860 or DMI@liolios.com
Terms of Engagement
During the term of the agreement, Liolios Group will
collaborate with Company management on a non-exclusive basis to
provide services which will include, but not be limited to, the
development, implementation and maintenance of an on-going stock
market support system aimed at increasing investor awareness of the
Company’s activities and to stimulate investor awareness in the
Company. Liolios Group will disseminate public information about
the Company to key investment professionals and private parties,
and as well to Liolios’s existing database of business associates
and investment professionals in both the United States of America
and Canada. In addition to the ongoing communication and
introduction of the company to key members of the financial
brokerage and investment community, they will conduct periodic
conference calls, identify investor conferences which may be of
interest to the Company, and arrange group or individual meetings
with portfolio managers, analysts, stockbrokers, and other
investment professionals.
The initial term of the agreement with Liolios Group
shall commence on May 1, 2013 for a period of six months, and shall
thereafter be automatically renewed for an additional six month
period unless either party shall notify the other in writing of its
intention not to renew, which notice shall be given at least 30
days in advance. As compensation for the services provided for
under the agreement, the Company agrees to pay fees of US $5,000
per month for the first two months of the initial term to Liolios,
and US $6,000 per month for the remaining four months of the
initial term and for any subsequent renewal month. As additional
incentive compensation for the services rendered during the term,
the Company has also granted Liolios Group options to purchase up
to 150,000 Company common shares at a price of $1.50 per share. The
options will vest in accordance with the TSX Venture Exchange
vesting requirements as follows: 37,500 options may be exercised on
August 1, 2013, 37,500 options may be exercised on November 1,
2013, and subject to the terms of the agreement and the renewal
provision, 37,500 options may be exercised on February 1, 2014, and
the final 37,500 options may be exercised on May 1, 2014. All
options will expire three years from the date of issue, and all
options exercised will be subject to the required hold periods
pursuant to applicable securities laws and TSX Venture Exchange
policies. The Liolios
Group’s engagement is subject to acceptance by the TSX Venture
Exchange.
Liolios Group does not hold any securities of the
Company nor does it have any direct or indirect interest in the
Company. Liolios Group and its principals do not engage in market
making activities and the firm will restrict its services to public
relations and investor relations consulting.
About Liolios Group
Liolios Group is a highly selective and comprehensive
investor relations firm specializing in micro to mid-cap
companies. The firm
aims to deliver superior performance in corporate messaging and
positioning, investor awareness, analyst and financial press
coverage and capital attraction. Founded in 1999 by J. Scott
Liolios, Liolios Group executives have extensive experience in
financial and investments and represent clients in a wide range of
industries, including life sciences/healthcare, consumer/internet
retail, business services, digital, media/software, clean
technology, technology, natural resources and special
situations. For more
information about Liolios Group, visit www.liolios.com.
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, extensive experience supplying rough diamonds to the world
market, and has established a long-term strategic alliance with
world famous Tiffany & Co. Rather than exposing itself to
the high risks and costs associated with exploration, the Company’s
focus is on the identification, acquisition, and operation of
unique diamond projects with near-term production potential such as
the Krone-Endora at Venetia Project. For additional information on
Diamcor, please visit our website at
www.diamcormining.com.
About the Tiffany & Co. Alliance
As announced on March 29, 2011, the Company has
established a long-term strategic alliance and first right of
refusal with Tiffany & Co. Canada, a subsidiary of world famous
New York based Tiffany & Co., to purchase up to 100% of the future production of
rough diamonds from the Krone-Endora at Venetia Project at then
current prices to be determined by the parties on an ongoing
basis. In conjunction
with this first right of refusal, Tiffany & Co. Canada also
provided the Company with substantial financing to advance the
Project as quickly as possible. Tiffany & Co. is a publically traded company which
is listed on the New York Stock Exchange under the symbol
TIF. Founded in 1837,
the Tiffany name is now globally recognised as one of the premier
luxury jewellery and specialty retailers in the world. Through
Tiffany & Co. and various other subsidiaries, the company is
engaged in product design, manufacturing, and retailing activities
on a global basis. As
of January 2013, Tiffany & Co. operated 275 stores and
boutiques in the Americas, Japan, Asia-Pacific, Europe and the
United Arab Emirates, and also engages in direct selling through
internet, catalog and business gift operations. For additional
information on Tiffany & Co., please visit their website at
www.tiffany.com.
About Krone-Endora at Venetia
In February 2011, Diamcor acquired the
Krone-Endora at Venetia Project from De Beers Consolidated Mines
Limited, consisting of the prospecting rights over the farms Krone 104 and
Endora 66, which represent a combined surface area of approximately
5,888 hectares directly adjacent to De Beers’ flagship Venetia
Diamond Mine in South Africa. De Beers previously completed various
exploration efforts on initial areas of interest comprised of
approximately 307 hectares, a summary of which was reported in an
initial Independent NI 43-101 Technical Report filed by the Company
on July 30, 2009. The deposits which occur on the properties of
Krone and Endora have been identified as a rare, higher-grade
“Alluvial” basal deposit which is covered by a lower-grade upper
“Eluvial” deposit. The deposits are proposed to be the result of
the direct-shift (in respect to the “Eluvial” deposit) and erosion
(in respect to the “Alluvial” deposit) of an estimated combined
1,000 m (1 km) of material from the higher grounds of the adjacent
Venetia Kimberlite areas. The deposits on Krone-Endora occur in two
layers with an average total depth of less than 15.0 metres from
surface to bedrock, allowing for a very low-cost mining operation
to be employed with the potential for near-term diamond production
from a known high-quality source. Krone-Endora also benefits from
the significant development of infrastructure and services already
in place due to its location directly adjacent to the Venetia
Mine. Since acquiring
Krone-Endora the Company has completed the construction and
installation of extensive infrastructure at the Project, along with
the installation of a purpose built modular processing plant, and
extensive quarrying and in-field screening operations. Commissioning of the processing
plant is now complete, and the Company’s current efforts are
designed to be a continuation of the ongoing advancement of the
Project, and as part of the Company’s final preparations in
anticipation of a planned move to 24/7 operations in the near
future.
On behalf of the Board of Directors
Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
DTaylor@diamcormining.com
Tel (250) 864-3326
www.diamcormining.com
Investor Relations Contact:
Justin Vaicek
Liolios Group, Inc.
DMI@liolios.com
Tel (949) 574-3860
This press release contains certain forward-looking
statements. While
these forward-looking statements represent our best current
judgement, they are subject to a variety of risks and uncertainties
that are beyond the Company’s ability to control or predict and
which could cause actual events or results to differ materially
from those anticipated in such forward-looking
statements. Further,
the Company expressly disclaims any obligation to update any
forward looking statements. Accordingly, readers should not
place undue reliance on forward-looking statements.
WE SEEK SAFE HARBOUR
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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