Dahava Resources Ltd.

January 02, 2007 16:29 ET

Dahava Resources Ltd. Announces Closing of Private Placement and Listing on Frankfurt Stock Exchange

CALGARY, ALBERTA--(CCNMatthews - Jan. 2, 2007) -


Dahava Resources Ltd. ("Dahava") (FWB:DH6) announced that it has closed a non-brokered private placement of an aggregate of 1,750,000 common shares of Dahava ("Common Shares") at a price of $0.10 per Common Share for gross proceeds of $175,000 to arm's length purchasers resident in London, England.

Dahava is also pleased to announce that its Common Shares have been listed for trading on the Frankfurt Stock Exchange under the symbol "DH6".

Dahava intends to offer (the "Offering") up to 5,000,000 units of Dahava ("Units") at a price of $0.50 per Unit for gross proceeds to the Corporation of $2,500,000 if the Offering is fully subscribed, to qualified purchasers resident in Europe, in reliance upon exemptions from the prospectus and registration exemptions of applicable securities legislation. Each Unit will consist of five Common Shares and a non-transferable share purchase warrant entitling the holder to acquire one additional Common Share at a price equal to the average of the closing prices of the Common Shares for the 60 trading days immediately following the listing of the Common Shares (subject to adjustment upon the occurrence of certain events), exercisable at any time and from time to time following 4 months after the date of issuance, and expiring 24 months from the date of issuance.

Effective January 1, 2007, Dahava granted stock options to senior officers, certain directors and consultants to acquire up to 2,550,000 Common Shares at an exercise of $0.10 per Common Share, of which stock options to acquire an aggregate of 1,687,500 Common Shares are subject to vesting over a period of either 3 or 5 years.

Dahava Resources Ltd. is a Canadian company that is involved in the acquisition, exploration and development of alluvial and other diamond bearing properties in Southern Africa. The Company currently owns and operates an alluvial diamond property in Namibia.

Contact Information

  • Dahava Resources Ltd.
    Eitan Dehtiar
    Chief Financial Officer
    (867) 766-3449