| December 21, 2009 Private Placement | |
| VANCOUVER, BC -- Chalice Diamond Corp. (TSX-V:COD) (the "Company") is pleased to announce it has arranged for a private placement of up to 20,000,000 units for total proceeds of up to $1,000,000. The financing will consist of flow through or non-flow through units priced at $0.05. Each of the flow-through units will consist of one flow through common share and one non-flow through, non-transferable share purchase warrant entitling the holder to purchase one additional common share for two years at a price of $0.10 per share. Each of the non flow-through units will consist of one non flow through common share and one non-flow through, non-transferable share purchase warrant entitling the holder to purchase one additional common share for five years at a price of $0.10 per share in years one and two, $0.15 per share in year three and $0.20 per share in years four and five. In accordance with Exchange policies, finders' fees may be paid on the funds raised. The private placement is subject to regulatory approval. Proceeds from the private placement will be used for exploration expenditures on the Company's Ontario properties as well as for general working capital. About Chalice Diamond Chalice Diamond Corp. is a member of the Hughes Exploration Group of Companies and is led by a team with a stellar track record of discovery and development in Canada. Chalice Diamond Corp., in conjunction with joint venture partners, is continuing the search for diamond, base and precious metal deposits in the Wawa-Chapleau region of Ontario, where it has staked or optioned approximately 100,000 hectares of highly prospective ground. For further information contact: Alan Campbell or Kevin Hull, Investor Relations Phone: (604) 685-2222 Email: info@chalicediamond.com AGORACOM Investor Relations: Email: cod@agoracom.com Website: http://www.agoracom.com/ir/chalicediamond Or visit Chalice Diamond's web-site: www.chalicediamond.com for current information and to see Smartstox interviews with company Chairman Richard Hughes. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release. The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. | |
You can view the Next News Releases item: Fri Jan 29, 2010, Chalice Diamond Corp. 2010 Exploration Plans: Follow-up on 8.4 kg Grab Sample Yielding 35 Diamonds Including 5 Macrodiamonds You can view the Previous News Releases item: Mon Dec 21, 2009, Chalice Diamond Corp. Samples 48.5 g/t Gold on Reid Vein at Old Cabin Project You can return to the main News Releases page, or press the Back button on your browser. |
