MONTREAL, QUEBEC--(Marketwire - Aug. 28, 2012) - Diadem Resources Ltd. (TSX VENTURE:DRL) Diadem Resources Ltd. ("Diadem") announces today that further to its Press Release of August 8, 2012, the TSX Venture Exchange has approved Diadem's issuance of 2,500,000 shares to a former officer and director to settle outstanding debt of $219,670.
Such shares were issued as of August 16, 2012 and the related debt has been extinguished.
All shares issued pursuant to this debt settlement are subject to a four (4) month hold period commencing August 16, 2012.
Inclusive of the aforementioned issuance, Diadem would have issued and outstanding 50,008,848 common shares and, on a fully-diluted basis, Diadem would have 57,450,515 common shares outstanding.
Additional information about Diadem Resources Ltd. may be found on its web page (www.diademresources.com) and under Diadem's profile on www.sedar.com.
This press release may contain certain forward-looking statements with respect to the Company. These forward-looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those contemplated. We consider the assumptions on which these forward-looking statements are based to be reasonable, but caution the reader that these assumptions regarding future events, many of which are beyond our control, may ultimately prove to be incorrect. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are various risks detailed from time to time in the filings made by the Company with securities regulators.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and accuracy of this release.