DIAMOND PAGE — Winspear finances work program

Diamond explorer Winspear Resources (WSP-V) has arranged a private placement of up to 5 million units. The placement consists of 2 million non-flow-through units priced at $2 each and 3 million flow-through units priced at $2.20, equivalent to gross proceeds of $10.6 million.

Each non-flow-through unit will consist of one common share and one warrant entitling the owner to buy an additional share at $2.20 for a period of 12 months. The flow-through unit will consist of one share and one warrant entitling the owner to purchase a further share at $2.50 for a 12-month period.

A portion of this transaction will be brokered.

Proceeds will be used to fund exploration and development of the NW Snap Lake kimberlite dyke at Winspear’s 67.8%-owned Camsell Lake property in the Northwest Territories.