Diamonds North Resources Ltd fka DDN

[EnergyGuy62]

Diamonds North Announces Financing

VANCOUVER, June 15, 2010 -- Diamonds North Resources Ltd. (TSX-V: DDN) announces that it intends to complete a non-brokered private placement to raise up to $1,000,000 through the sale of flow-through shares. The flow-through shares will comprise up to 5,000,000 shares at $0.20 per share (the "Offering"). The placement is to finance the Company's diamond and gold programs on the 100% owned Amaruk property in Nunavut.
Finders Warrants may be payable on a portion of the placement. The Finders Warrants will entitle the holder to purchase that number of non flow-through common shares which is equal to 7% of the number of Flow-Through Shares sold by the Finders. The Finders Warrants will expire twelve months after the closing of the Offering. The exercise price for the Finders Warrants will be $0.25 per common share.
This private placement is subject to regulatory approval.
About Diamonds North
Diamonds North Resources is rapidly evolving and committed to building long-term value for shareholders through ongoing discoveries and leveraging business opportunities from our vast land holding.
On behalf of Diamonds North Resources Ltd.
Mark Kolebaba
President & CEO
For additional information please contact:
Troy Shultz
Corporate Communications
Diamonds North Resources Ltd.
Telephone: [phone]
Facsimile: [phone]
Email: [e-mail]
Website: www.diamondsnorth.com