Diamcor Secures Intent for $5M Term Loan with Dubai-Based Partner

Diamcor Mining Inc., a Canadian diamond mining firm, has signed a non-binding letter of intent to secure a non-dilutive financing of up to USD $5 million. This agreement is made with a prominent Dubai-based company specializing in bridal and anniversary diamonds. The finalized terms will likely include security, interest, and revenue participation components. The funds are intended to accelerate processing at Diamcor's Krone-Endora at Venetia Project in South Africa and to support bulk sampling and corporate purposes.

Diamcor's CEO, Mr. Dean Taylor, noted the significance of the partnership in providing quality non-conflict diamonds for the luxury sector. He expressed optimism about a market recovery in the second half of 2025. The financing requires TSX Venture Exchange approval, along with all necessary documentation. Furthermore, Diamcor's shareholders passed all resolutions at the recent AGM, reflecting strong governance support.