Margaret Lake Diamonds Closes Non Brokered Private Placement for Gross Proceeds of $365,000 and Announces Award of A Grant by NWT Under The Mining Incentive Program
MARGARET LAKE DIAMONDS INC.
Margaret Lake Diamonds Closes Non Brokered Private Placement for Gross
Proceeds of $365,000 and Announces Award of A Grant by NWT Under The
Mining Incentive Program
June 12, 2017, Vancouver, British Columbia - Margar et Lake Diamonds Inc. (TSXV: DIA, FSE:
M85) (“MLD” or the “Company”) announces the closing of the previously announced non-
brokered Flow Through Private Placement (the ‘’Offering”) of 3,650,000 units (each a “Unit”) at
a price $0.10 per Unit, for aggregate gross proceeds of $365,000.
Each Unit consists of one Flow Through 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 until June 13, 2018.
In connection with the closing of the Offering the Company paid finder’s fees of $12,600 and
210,000 Units to certain finders in accordance with applicable securities laws and policies of the
Exchange. The net proceeds will be used for explora tion expenditures on the two diamond
exploration properties of the Company.
In addition, the Company is pleased to announce tha t the NWT has offered it a grant under the
Mining Incentive Program. This award relates to the Margaret Lake project and states ‘Your
Margaret Lake project was highly ranked and approve d for funding at 50%. The total value of
your MIP funding for 2017-2018 is $36,601.25.’ The Company appreciates this acknowledgment
from the Territorial government.
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 Provinc e Diamonds, and adjacent to the
ongoing advanced exploration by Kennady Diamonds. I n addition the Company has a joint
venture with Arctic Star Exploration Corp. on the D iagras property in the Lac de Gras area in
proximity to the Ekati and Diavik producing diamond mining operations. The Board of Margaret
Lake Diamonds Inc. is comprised of persons with com bined 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.ca
Forward-looking Information
This news release contains forward-looking informat ion that involve various risks and uncertainties
regarding future events. Such forward-looking info rmation 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 a nd future events could differ materially from
anticipated in such information. These and all subs equent written and oral forward-looking information
are based on estimates 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. Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies o f the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.