Margaret Lake Diamonds Inc. Announces Non-Brokered Private Placement
Margaret Lake Diamonds Inc. Announces Non-Brokered Private Placement
VANCOUVER, BC / August 23, 2021 / Margaret Lake Diamonds Inc. ("MLD" or the "Company")
(TSXV:DIA) (FKT:M85) (OTC PINK:DDIAF) is pleased to announce the Company has applied for,
conditional approval from the TSX Venture Exchange (“TSXV”) for a waiver from the five-cent minimum
price requirement and intends to complete a non-brokered private placement (the "Private Placement") for
up to 5,000,000 Units ("Units") at a price of CA$0.03 per Unit.
Each Unit will consist of one common share in the capital of the Company (each a "Common Share) and
one common share purchase warrant ("Warrant"). Each Warrant is exercisable into one Common Share at
a price of CA$0.07 for a period of two years from the date of issue. Each Warrant is callable by the Company
in the event its Common Shares trade on the TSXV at a 10 day volume weighted average price equal to or
greater than CA$0.18.
The securities issued under the Private Placement will be subject to a hold period of four-months and a day.
Use of proceeds will be used for further exploration of its Old Nick and Letain Nickel Cobalt properties,
contribute to and maintain the companies share in its Joint Venture with Arctic Star Diamond Exploration,
legal, accounting and General Administrative costs.
Contact Information
Neil Foran
Chief Executive Officer
(604) 681 -7735
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release contains forward -looking information or forward-looking statements (collectively
"forward-looking information") within the meaning of applicable securities laws. Forward -looking
information is typically identified by words such as: "believe", "expect", "anticipate", "intend",
"estimate", "potent ially" and similar expressions, or are those, which, by their nature, refer to future
events. The Company cautions investors that any forward -looking information provided by the
Company is not a guarantee of future results or performance, and that actual r esults may differ materially
from those in forward -looking information as a result of various factors. The reader is referred to the
Company's public filings for a more complete discussion of such risk factors and their potential effects,
which may be accessed through the Company's profile on SEDAR at www.sedar.com.