Diagem Inc.
TSX VENTURE : DGM

Diagem Inc.

September 04, 2007 15:07 ET

Diagem Shareholders Vote 99.3 % in Favour of Consolidation

MONTREAL, QUEBEC--(Marketwire - Sept. 4, 2007) - Diagem Inc. (TSX VENTURE:DGM) ("Diagem" or "the Company") is pleased to report that 99.3% of the votes cast at a Special Meeting of the Shareholders held on September 4, 2007 were in favour of and approved a consolidation of the common shares of on a one-for-ten basis. The Company currently has 271,807,206 outstanding common shares.

"This transaction has been a tremendous success for Diagem," said Denis Francoeur, Chief Executive Officer, "as it demonstrates our shareholders' support of our new exploration and development program, reduces the outstanding float of shares, allows us to proceed with our market capitalization plans, and places us in a strong growth position."

The consolidation is subject to the approval of regulatory authorities. All warrants and stock options will be recalculated to reflect the consolidation. The Company will announce when the shares begin trading on a post-consolidated basis.

About Diagem

Diagem Inc. is a Canadian exploration mining company focused on diamondiferous resources in the Juina Diamond Province of Mato Grosso, Brazil, where it controls a large portfolio of mineral properties. The Company has one advanced development stage project and recently discovered two clusters of kimberlite pipes believed to be the main sources of the Juina Province historical alluvial diamond production.

Forward-looking statements: Except for statements of historical fact, all statements in this news release, without limitation, regarding new projects, acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.

Contact Information

  • Diagem Inc.
    Denis Francoeur, CEO
    514-866-6001 (ext 265)
    or
    Diagem Inc.
    Paul Einarson, CFO
    514-866-6001 (ext 251)
    or
    Diagem Inc.
    Nicole Blanchard
    Investor Relations
    450-627-6600
    WWW.DIAGEM.COM (FAX)