Star Diamond Corporation (TSE:DIAM) has released an update.
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Star Diamond Corporation has fully acquired Rio Tinto Exploration Canada Inc.’s 75% stake in the Fort à la Corne diamond project, achieving complete ownership. As part of the deal, Star Diamond issued over 108 million common shares to Rio Tinto, who now holds a 19.9% interest in Star Diamond. The two companies have also agreed on an investor rights agreement, giving Rio Tinto certain rights in future financings and acquisition scenarios.
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