Debut Diamonds Inc (C:DDI*CA)

Business Focus: Precious Metals & Minerals

Jan 09, 2019 01:29 pm ET
Debut Diamonds Announces Closing of Private Placement and Debt Conversion
Toronto, Ontario--(Newsfile Corp. - January 9, 2019) - Debut Diamonds Inc. (CSE: DDI) ("Debut Diamonds" or the "Company") is pleased to announce the closing of its previously announced non-brokered private placement for gross proceeds of $600,000 (the "Private Placement") and the settlement of $90,000 in debt (the "Debt Conversion"; together with the Private Placement, the "Transactions"). Under the Private Placement, the Company issued an aggregate of 200,004,000 units ("Units") at a price of approximately $0.003 per Unit, or $0.05 per Unit after adjusting for the Consolidation (as defined below) (the "Issue Price"). Each Unit is comprised of one (1) common share of Debut (a "Common Share") and one half of one (1/2) Common Share purchase warrant (each whole warrant, a "Warrant"), with each Warrant being exercisable into one Common Share at the Issue Price for a period of five years following closing of the Private Placement. Under the Debt Conversion, the Company issued 30,000,600 Common Shares at a deemed price equal to the Issue Price in settlement of certain outstanding debt.
Nov 26, 2018 10:12 pm ET
Debut Diamonds Announces Engagement of KWG as Sales Agent, Board Changes, Private Placement, and Sale of Control
Toronto, Ontario--(Newsfile Corp. - November 26, 2018) - Debut Diamonds Inc. (CSE: DDI) ("Debut Diamonds" or the "Company") today announced a series of transactions, including the engagement of KWG Resources Inc. ("KWG") as its exclusive agent to source buyers for its various diamond mineral resource properties, changes to its board of directors, a proposed private placement, a proposed conversion of debt into common shares of the Company ("Common Shares"), and the sale by KWG of all of the Common Shares that it previously held in Debut Diamonds (collectively, the "Transactions"). The Transactions are each described in further detail below.