Johannesburg, South Africa — MININGREVIEW.COM — 05 February, 2008 – The common shares of BRC Diamond Corporation (BRC) – a development company formed to focus on diamond exploration and production in southern and central Africa – have been listed on the JSE’s main board under the trading symbol “BCD.”
This listing precedes the pending merger of BRC – a Canadian-based diamond exploration company active principally in the Democratic Republic of Congo – and Diamond Core Resources Limited – a South African-based exploration company
The transaction is expected to be completed on February 11, 2008 and the Company’s name will be changed to BRC DiamondCore Ltd. Trading on the JSE under this new name will continue under the symbol "BCD".
As part of the transaction, BRC has applied and received conditional approval for the listing of its shares on the Toronto Stock Exchange. This listing is subject to certain conditions, including that the DiamondCore transaction be completed. It is expected that trading of shares on the Toronto Stock Exchange under the new name of BRC DiamondCore Ltd. will also begin on or about February 11 2008, and will also be under the symbol "BCD".
BRC president and CEO Mike de Wit commented: "This is a very exciting day for all stakeholders, with the listing of BRC on the JSE being the final step preceding the merger of the businesses of BRC and Diamond Core. The combined business will bring together Diamond Core’s strong engineering capabilities and advanced development projects in South Africa, and BRC’s geological expertise and substantial portfolio of highly prospective projects in the most prominent diamond districts of the Democratic Republic of the Congo," he added.
"With listings on two major stock exchanges and a leadership team with a proven track record in diamond exploration, development and operations, BRC DiamondCore Ltd. will be in a unique position to grow organically and through acquisition," said de Wit.