19 February 2015
Toronto, Ontario: February 19, 2015 – Kennady Diamonds Inc. (“Kennady Diamonds”, the “Company”) (TSX-V: KDI) is pleased to announce the closing of the first tranche of the previously announced non-brokered private placement of common shares, for gross proceeds of C$5,808,879.20.
The Company has issued 1,636,304 common shares at a price of $3.55 per share. The shares are subject to a four month hold period, expiring on June 19, 2015. Proceeds of the private placement will be used primarily for the Company’s 2015 winter exploration program at the Kennady North project and for general working capital.
The Company anticipates closing a second tranche of the private placement on or about February 23, 2015. The second tranche will include flow-through common shares at a price of $5.00 per share, as well as additional non flow-through common shares for $3.55 per share.