Correction - Margaret Lake Diamonds Inc. Announces Non-Brokered Flow Through Private Placement
MARGARET LAKE DIAMONDS INC.
Correction - Margaret Lake Diamonds Inc. Announces Non-Brokered Flow
Through Private Placement
TSXV: DIA
May 1, 2017, Vancouver, British Columbia - Margaret Lake Diamonds Inc. (TSXV:DIA,
FSE:M85) (“Margaret Lake” or the “Company”) announces that further to the Company’s press
release dated April 28, 2017, Margaret Lake correct s the terms of the announced non-brokered
Flow Through Private Placement. The complete and corrected release is as follows:
Vancouver, British Columbia - Margaret Lake Diamond s Inc. (TSXV: DIA, FSE:M85) (the
“Company”) announces a non-brokered Flow Through private plac ement (the "Offering") of up
to 5,000,000 units (each a "Unit") at a price of $0.10 per Unit, for aggregate gross proceeds of up
to $500,000. Each Unit shall consist of one Flow Th rough common share of the Company and
one-half of one transferable non flow through common share purchase warrant ("Warrant"), with
each whole Warrant entitling the holder thereof to acquire one additional non flow through
common share at a price of $0.15 for a period of tw elve (12) months following closing of the
Offering.
The Company may pay finder's fees of 6% cash and 10% Units under the Offering in accordance
with applicable securities laws and the policies of the Exchange. The net proceeds from the
Offering will be used for the Company’s planned ground geophysical programs.
Closing of the Offering is subject to receipt of ap plicable regulatory approvals including the
approval of the Exchange. The securities issued will be subject to a standard four month and one
day hold period.
About Margaret Lake Diamonds Inc.
Margaret Lake Diamonds Inc. is a diamond exploratio n company focused on the Northwest
Territories with the Margaret Lake property in prox imity to Gahcho Kué, the new Canadian
diamond mine owned by De Beers and Mountain Province Diamonds, and adjacent to the ongoing
advanced exploration by Kennady Diamonds. In additi on the Company has a joint venture with
Arctic Star Exploration Corp. on the Diagras property in the Lac de Gras area in proximity to the
Ekati and Diavik producing diamond mining operation s. The Board of Margaret Lake Diamonds
Inc. is comprised of persons with combined involvement of over 50 years in the Canadian diamond
sector.
ON BEHALF OF THE BOARD OF DIRECTORS
“Paul Brockington”
Paul Brockington, President and Chief Executive Officer
For further information, please contact:
Margaret Lake Diamonds Inc.
Paul Brockington
President and CEO
Phone: 604-630-2810
Website: www.margaretlake.com
Forward-looking Information
This news release contains forward-looking informat ion that involve various risks and
uncertainties regarding future events. Such forward -looking information can include without
limitation statements based on current expectations involving a number of risks and uncertainties
and are not guarantees of future performance of the Company. Actual results and future events
could differ materially from anticipated in such information. These and all subsequent written and
oral forward-looking information are based on estim ates and opinions of management on the
dates they are made and expressed qualified in their entirety by this notice.
The Company assumes no obligation to update forward-looking information should circumstances
or management’s estimates or opinions change. Neit her TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.