Diamcor Mining Receives Section 244 Notice from Tiffany & Co.

Diamcor Mining Inc., a Canadian diamond company, announced receipt of a Section 244 notice from Tiffany & Co. Canada. This notice under Canada’s Bankruptcy and Insolvency Act indicates an Event of Default under Diamcor's loan and security agreements with Tiffany. Tiffany plans to enforce its security against all of Diamcor's assets, including shares in DMI Diamonds South Africa (Pty) Ltd. Tiffany must provide 10 days' notice before enforcement. Currently, Diamcor and Tiffany are exploring alternatives.

Diamcor focuses on its Krone-Endora project in South Africa, adjacent to De Beers' Venetia Mine. The project, acquired from De Beers, involves extracting alluvial diamonds with near-term production potential. The company highlights its commitment to social responsibility and advanced mining techniques.