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VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 28, 2014) - Diamond Fields International Ltd. (TSX VENTURE:DFI) ("DFI" or the "Company") is pleased to announce that on March 27, 2014 the TSX Venture Exchange accepted the issuance of a new convertible debenture in the total principal amount of $151,357 (the "2014 Debenture") to Firebird Global Master Fund II Holdings, Ltd. ("Firebird"), which replaces the 2010 Debenture that matured March 27, 2014 (refer to March 25, 2014 News Release).


Accordingly, on March 27, 2014 the Company issued the 2014 Debenture, which is for a one year term maturing March 26, 2015, with 8% interest payable semi-annually. The Debenture is convertible into a total of 3,027,140 units (the "Units") at a conversion price of $0.05 per Unit. Each Unit is comprised of one common share and one-half share purchase warrant (the "Warrant"), each whole Warrant entitling the holder to acquire one additional common share (the "Warrant Shares") on or before March 26, 2015 at a price of $0.05 per Warrant Share.


Any shares that may be issued on conversion of the Debenture or on exercise of the Warrant will be subject to a hold period under applicable Canadian securities laws expiring on July 28, 2014, and will be subject to such further restrictions on resale as may apply under applicable foreign securities laws.


Proceeds of this financing will be applied towards general working capital.


As disclosed in the March 25, 2014 News Release, as an insider, Firebird is a "related party" of the Corporation under applicable Canadian securities laws. Firebird may, by exercising its conversion rights and exercising the Warrants issued to it pursuant to the 2014 Debenture, acquire up to an additional 4,540,710 common shares in the capital stock of the Corporation, which would increase its pro rata shareholdings in the Corporation. All of the independent directors of the Corporation, acting in good faith, have determined that the fair market value of the securities being issued and the consideration paid (the "Related Party Transaction") is reasonable and, as the value of the Related Party Transaction is less than 25% of the Corporation's market capitalization, the transaction is exempt from the formal valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions.



DIAMOND FIELDS INTERNATIONAL LTD.



Earl Young, CFO and Secretary



Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.





FOR FURTHER INFORMATION PLEASE CONTACT:







Contact Information:
Diamond Fields International Ltd.
Earl Young
+ 1 604 685 9911
+ 1 604 718 2808 (FAX)
http://www.diamondfields.com/">www.diamondfields.com