DIAMOND EXPLORATION STRATEGIES SECURES PRIVATE FUNDING AND ANNOUNCES A NEW SHAREHOLDER AND DIRECTOR

Diamond Exploration Strategies Limited (“DES UK”) entered into a transaction with Mr Gregory Paton-Ash (“GPA”) on 8 June 2018 to secure funding for its exploration projects in Botswana in return for a shareholding in DES and appointment as Director. The transaction consists of three Phases:
Phase 1. A ‘Due Diligence’ phase during which GPA and DES UK will expedite the transfer of DES Botswana to DES UK and finalize work programmes. No funds will be required during this phase.
Phase 2. An upfront payment of US$100,000 for a 10% interest in DES UK. Share certificates will be issued on receipt of funds. The funds will be used solely for exploration activities by DES Botswana. GPA will join the Board of DES UK.
Phase 3. GPR will have the option of acquiring an additional 10% of DES UK shares through incremental payments totaling US$400,000 be used solely for exploration activities by DES Botswana.

DES UK has confirmed that Phases 1 and 2 were completed on 8 October 2018 and share certificates have been issued to GPA for a 10% holding of DES UK. Mr Gregory Paton-Ash was appointed as a Director of DES UK on 12 October 2018. GPA continues to fund exploration activities to meet the requirements of Phase 3 of the transaction.

Contacts

Gerard de la Vallee Poussin
gerard.dlvp@gmail.com
+32 85 841905

Barry Bayly
barry@diamexstrat.com
+27 83 4482280

Mike Shaw
mike@diamexstrat.com
+27 83 2260563