BURGUNDY DIAMOND MINES LIMITED

BURGUNDY DIAMOND MINES LIMITED (ASX: BDM)

Burgundy Diamond Mines Limited completes a conditional placement to raise US$150 million for the acquisition of Arctic Canadian Diamond Company Limited and Arctic Canadian Diamond Marketing NV.
The Underwritten Placement received firm commitments of ~US$126 million and the Vendor Placement partially repays ~US$24 million of outstanding debt.
Burgundy also offers a non-underwritten share purchase plan to raise up to ~US$7 million, with the acquisition aiming to stabilize production, extend mine life, and grow the business.

2023-05-24 11:06:00

Burgundy Diamond Mines Limited announces an amendment to the share purchase agreement (SPA) for the acquisition of Arctic Canadian Diamond Company Limited and Arctic Canadian Diamond Marketing NV.
The amended SPA involves debt repayment, which will now be made via a combination of cash and scrip, with shares issued at the same price as the Placement.
The Proposed Acquisition will still have a total consideration of US$136 million at closing, and the Scrip Consideration and Deferred Payment remain unchanged.

2023-04-18 12:50:00

Burgundy Diamond Mines Ltd has decided not to exercise Option Deed to acquire the Ellendale Diamond Project in Australia.
Burgundy will focus on the acquisition and integration of Ekati Diamond Mine in Canada.
The decision was made in the best interests of shareholders and aligns with Burgundy's strategic direction.

2023-03-20 10:54:00

Burgundy Diamond Mines is acquiring the Ekati Diamond Mine in Canada for US$136 million.
This acquisition will make Burgundy the largest ASX-listed diamond company globally.
The funding for the acquisition will come from the equity raised through a conditional placement of up to US$150 million.

2023-03-14 10:08:00