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PLACING
TO RAISE �1.3 MILLION
The Directors of Brazilian Diamonds Limited
("Brazilian Diamonds" or the "Company") are pleased to
announce the placing of 25,957,000 new common shares of no par value each in
the Company (the "New Shares"), conditional upon admission to
trading on AIM and the Toronto Stock Exchange ("TSX") (the
"Placing"). The Placing will raise Cdn. $2,595,700 (approximately
�1.3 million) (before the expenses of the issue).
This
Placing will provide the Company with ongoing working capital and assist the
Company in the continuation of bulk sampling operations at the Salvador 1
project in Bahia State, Brazil.
The
New Shares subscribed for under the Placing have been placed with investors
at a price of Cdn. 10 cents (approximately 5p) per share by the Company with
assistance from Williams de Broe Ltd in a non-brokered private placement. A
total commission of four per cent of the gross proceeds will be paid in
connection with the Placing.
Application
will be made for the New Shares to be admitted to trading on AIM. It is
expected that admission will take place on 28 March 2008. The New Shares are
restricted from transfer for a period of four months expiring on 27 July
2008. Following the Placing there will be 194,370,722 shares in issue.
Certain statements included herein
constitute "forward-looking statements" within the meaning of
applicable Canadian securities legislation. These forward-looking statements
are based on certain assumptions by Brazilian Diamonds and as such are not a
guarantee of future performance. Actual results could differ materially from
those expressed or implied in such forward-looking statements due to factors
such as general economic and market conditions, increased costs of
exploration and unforeseen logistical issues. Brazilian Diamonds is under no
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as required by
applicable laws.
For further information refer to the Company's website www.braziliandiamonds.com or
contact:
Brazilian Diamonds Limited
Brazilian Diamonds Limited + 44 7733 001 002
Stephen Fabian, CEO + 55 31 8814 5111
Investor Relations
Europe - Paul Ensor + 44 207 590 5503
North America - Jon Bey 1-866-689-2599
Hanson Westhouse Limited (Nomad to the Company) + 44 113 246 2610
Tim Feather / Matthew Johnson
Landsbanki Securities (UK) Limited (Broker to the Company) + 44 207
426 9000
Tom Hulme
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