09:58 AM EST - BRC DiamondCore Ltd. : announced that it has entered into a Heads of Agreement with KIG Mining Plc, under which KIG has agreed to purchase BRC's alluvial diamond projects in South Africa, consisting of the Silverstreams, De Kalk, Muishoek, Sanddrift and Uitdraal projects, together with the processing plant, mining fleet and equipment which are associated with these projects. The purchase price for the Purchased Assets set out in the Agreement is $10.7 million U.S., consisting of $2.0 million U.S. in cash to be paid to BRC, 18 million ordinary shares of KIG to be issued to BRC at a price of $0.478 U.S. per share or $8.6 million U.S. in the aggregate; and $100,000 U.S. to be paid by KIG directly to existing creditors to facilitate the resumption of operations at the Silverstreams project. BRC DiamondCore Ltd.
shares T.BCD are trading even at $0.06.
