Diadem hires Japanese fund to find up to $6-million

2008-10-15 12:52 ET - News Release

Mr. Paul Carroll reports

DIADEM ENGAGES INTERNATIONAL FUND FOR $6 MILLION FINANCING

Diadem Resources Ltd. has entered into an agreement to retain Wakabayashi Fund LLC of Tokyo, Japan, to assist Diadem in structuring and arranging one or more financings over a six-month period. This will provide the company with funding for general corporate purposes and to carry out a drilling program at its Franklin diamond project located on the Parry Peninsula in the Canadian Arctic. The plan is to raise $1.5-million for working capital in the next 30 days towards a total of $6-million within the six-month contract period. Specific financings will be subject to regulatory review and approval when details are available.

Wakabayashi Fund is a private-equity consulting firm that provides institutional corporate finance and international investor relations services. It invests on a principal basis and acts in an agency capacity to procure capital for both profitable and emerging small-cap and mid-cap companies. From its headquarters in Tokyo, an office in New York and representatives in other financial capitals, over the last 20 years Wakabayashi Fund management has generated institutional investments in the $1-million to $100-million range for companies in a multitude of sectors.