|By Marketwired .||
|July 8, 2014 01:34 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 07/08/14 -- Debut Diamonds Inc. (CNSX: DDI) ("Debut") has engaged Nordwert Beteiligungs GmbH, of Hamburg, Germany ("Nordwert") to provide advisory and fiduciary services and business acquisition opportunities in Germany. Nordwert will initially attend to the listing of the presently issued and outstanding shares of Debut to enable their trading on the facilities of the Frankfurt Stock Exchange.
Debut intends to convert its outstanding indebtedness to KWG Resources Inc. (TSX VENTURE: KWG)(FRANKFURT: KW6) ("KWG") into new treasury shares and warrants of Debut to discharge a fixed and floating charge to KWG securing $1.4 million of advances. These were made under a loan agreement dating to KWG's distribution of the shares of Debut by way of a return of capital dividend to its shareholders. Under the terms of the agreement the debt may be converted at KWG's option into shares of Debut at $0.05 per share. Debut has proposed by way of incentive to KWG that the conversion include a full warrant with each share, exercisable for five years at $0.10. The Nordwert engagement also extends to the identification of one or more purchasers for Debut's holdings of shares and warrants of KWG.
About Debut Diamonds
Debut has both joint-ventured and wholly-owned diamond exploration properties including the previously discovered MacFadyen Kimberlites and the Victor West, Uniform Surround and Pele claim blocks all contiguous to De Beers' Victor Diamond Mine, west of James Bay on Ontario's Attawapiskat River. The Nakina Project, DIAGNOS Initiative, Kyle Kimberlites and Canada Chrome Soil Sampling joint venture are also located in the James Bay lowlands of Northern Ontario.
Neither CNSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CNSX Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. The foregoing information contains forward-looking statements relating to the future performance of Debut Diamonds Inc. Forward-looking statements, specifically those concerning future performance, are subject to many risks and uncertainties, and actual results may differ materially from Debut Diamonds Inc. plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by Debut Diamonds with the CNSX Exchange and securities regulators. Debut Diamonds does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.