Statement re closing of private placement

SouthernEra Closes $C690,000 Private Placement

 

    Shares Issued and Outstanding: 102,066,601

    TSX: SDM

    AIM: SRE

 

    TORONTO, April 29 /CNW/ - SouthernEra Diamonds Inc. (the "Company")

(TSX: SDM, AIM: SRE) announced today the closing of a non-brokered private

placement to the Company's directors, officers and insiders. The financing

included 1,500,000 units, comprised of one common share and one half common

share purchase warrant of the Company at a price of C$0.46 per unit. The

warrants will have a term of two years and an exercise price of C$0.69. The

common shares and underlying common shares to the warrants will be subject to

a four month hold period.

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

Company's African exploration program.

 

    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: 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. SRE)