Paragon Diamonds Increases 5 Million Dollars
At a price of 34-pence each...Paragon Diamonds raised $4.6 million (GBP 2.89 million) though a subscription of 8.5 million new ordinary shares at a price of 34-pence each.
Following the issue, the company's issued share capital now consists of 151,182,819 ordinary shares of 1-pence each.
“I am pleased with the continuing investor support and am confident that the additional funds raised will further strengthen Paragon’s interests throughout Africa, in the rapidly recovering diamond market,” Frank Scolaro of Paragon chairman said in statement.
Paragon Diamonds was listed in November on London's AIM using the ticker PRG. The group stated that its focus is to increase production from its operating alluvial diamond mine in Kono, Sierra Leone, with the intention of carrying out further exploration activity in both Sierra Leone and Tanzania.
By: JewelryOurs
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