Non-Brokered Private Placement to Company's dir...

SouthernEra Closes $587,500 Private Placement

 

    Shares Issued and Outstanding: 86,630,418

    TSX: SDM

    AIM: SRE

 

    TORONTO, Feb. 4 /CNW/ - SouthernEra Diamonds Inc. (the "Company")  

(TSX: SDM, AIM: SRE) announced today the closing of its previously announced

non-brokered private placement to the Company's directors. The financing

included 992,100 common shares of the Company at a price of C$0.47 per common

share and 257,900 flow-through common shares in the Company at a price of

C$0.47 per flow-through common share for a total of 1.25 million shares at

C$0.47 per share. Gross proceeds totaled C$587,500. No warrants or options

were issued or granted and the private placement shares are subject to a

mandatory hold period.

    The proceeds from the private placement will be used to support the

Company's global exploration program and for general corporate purposes.

    The securities being offered have not, nor will they be registered under

the United States Securities Act of 1933, as amended, and may not be offered

or sold within the United States or to, or for the account or benefit of U.S.

persons absent U.S. registration or an applicable exemption from U.S.

registration requirements. This release does not constitute an offer for sale

of securities in the United States.

 

    SouthernEra Diamonds is one of Canada's largest fully integrated diamond

companies with extensive diamond exploration in five countries, including

Canada, Australia, Gabon, the Democratic Republic of the Congo and South

Africa. This represents one of the most active global diamond exploration

programs. The Company also operates the Klipspringer Diamond Mine in South

Africa and maintains an 18 percent free-carried interest in the Camafuca

Diamond Project in Angola.

   

    For further information: PLEASE CONTACT: SouthernEra Diamonds Inc.,   

Mr. Chris Reynolds, Senior Vice President and CFO, or Ms. Sharon Allan,

Investor Relations, Telephone: [phone], Fax: [phone], E-mail:

inbox(at)southernera.com, www.southernera.com

    (SDM.)