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Ressources Quebec buying at Stornoway Diamond (T:SWY)

Updated Wednesday Dec 12, 2018 03:07 AM EDT

Ressources Québec inc., a 10% Holder, acquired 28,571,428 Common Shares on a direct ownership basis at a price of $0.350 through a prospectus or prospectus exempt offering on December 7th, 2018. The insider also acquired 14,285,714 Warrants with an exercise price of $0.455 until December 7, 2023. This represents a $10,000,000 investment into the company's shares and an account share holdings change of 18.9%.

Stornoway Diamond is in the Precious Metals & Minerals Sub Industry Group under the Basic Materials Sector.

Stornoway Diamond Corp is a Canada-based diamond exploration and development company. The Company is principally engaged in the acquisition, exploration and development of diamond properties. The Company's principal focus is its Renard Diamond Project located in north-central Quebec, a project in construction. The Company's Adamantin Project is located approximately 100 kilometers (km) south of the Renard Diamond Project and over 20 km west of the Route 167 Extension road. The Adamantin Project comprises approximately 15,140 hectares of exploration claims. It holds an interest in each of the Pikoo, Qilalugaq and Timiskaming properties. The Pikoo Diamond Project consists of over 33,370 hectares of mineral claims. The Qilalugaq Diamond Project consists of over 7,140 hectares and is located approximately 10 km north of the community of Repulse Bay, Nunavut. The Timiskaming Diamond Project consists of staked claims or optioned mining patents. Stornoway Diamond Corporation (SWY) has below median officer and director direct ownership compared to its small-cap peers in the market, based on our estimate using SEDI data. According to regulatory filings yesterday, one insider has invested a total amount of $10,000,000.

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