(CercleFinance.com) – Rio Tinto Exploration Canada (RTEC) announces that it has acquired 108,204,112 common shares in the capital of Star Diamond Corporation (SDC) in exchange for its entire interest in the Fort à la Corne joint venture (‘ Interest in the joint venture FalC’).
As a result, RTEC or currently controls, in aggregate, 1,19315222 common shares representing a 19.9% interest in SDC.
Prior to the transaction, RTEC held a 75% interest in the Fort à la Corne joint venture and 1,111,1110 common shares of SDC.
Under the terms of the agreement, RTEC sold its entire interest in the FalC joint venture to SDC, resulting in RTEC owning 19.9% of the issued and outstanding common shares of SDC on a non-diluted basis.
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