News: DRX Diatreme Resources Says To Raise Up To Circa A$52 Million

June 27 (Reuters) - Diatreme Resources (DRX) :

• TO RAISE UP TO CIRCA A$52 MILLION
• PLACEMENT VIA PLACING NEW FULLY PAID ORDINARY SHARES AND TWO-TRANCHE ASSET JOINT VENTURE
• SIBELCO BECOME SIGNIFICANT SHAREHOLDER IN DIATREME VIA A$13.97 MILLION STRATEGIC PLACEMENT
• SIBELCO'S PLACEMENT OF 559.5 MILLION NEW ORDINARY SHARES AT COMBINED ISSUE PRICE OF A$0.025 PER SHARE
• ALSO AGREED BINDING TERMS OF PLACEMENT TO ILWELLA PTY OF 132.1 MILLION NEW ORDINARY SHARES AT A$0.025 PER SHARE
• SIBELCO & CO AGREED JV TO DEVELOP GALALAR SILICA PROJECT & NORTHERN RESOURCE PROJECT, WITH SIBELCO'S INVESTMENT OF A$35 MILLION