Big Red Diamond Corporation

Big Red Diamond Corporation

June 29, 2005 15:29 ET

Big Red Diamond Corporation: $166,000 Private Placement

MONTREAL, QUEBEC--(CCNMatthews - June 29, 2005) - Big Red Diamond Corporation (TSX VENTURE:DIA) announces that it has concluded with persons dealing at arm's length, a private placement of $ 166,000 consisting of the issuance of 1,660,000 units at a price of $ 0.10 per unit; each unit entitles the holder thereof to acquire one (1) common share at a price of $0.10 per share, and one quarter of one (1/4) purchase warrant exercisable at $0.20 per full warrant until May 31, 2007.

The purpose of this private placement is to allow for cashflow.

A finder's fee of $9,100 is payable in cash. The closing of said private placement is subject to regulatory approval.

The company presently has 23,092,370 common shares issued and outstanding.

The TSX Venture Exchange does not accept responsibility for adequacy or accuracy of the content of this news release.

Contact Information