Rockwell Raised $7.4 Million Financing
January 07, 10
Rockwell Diamonds has raised approximately $7.4 million of the planned $12.5 million of financing it announced December 2, 2009. The diamond miner also intends to increase the originally planned $12.5 million of financing by approximately $2.2 million, approved by the Toronto Stock Exchange.
The Company expects to complete the remaining financing this month.
The remaining portion of the company's recapitalization will be sought through a rights offering planned for January 2010. Completion of at least $3.1 million of this rights offering is guaranteed by another new principal investor, Daboll Consultants, who are associated with the Steinmetz Diamond Group.
In related news, Rockwell has appointed Yong Guo as a director of the company. Guo is the managing partner of Godia Capital Partners, one of the first Chinese private equity funds created to focus on investment opportunities in resource projects in Africa.