News Gem International | Angola Diamond Mining Investment

Press Release

Mar. 14, 2017  | Gem International Updates Dala Project

Vancouver, British Columbia, Canada, March 14, 2017 – Gem International Resources Inc. (the “Company”) (TSXV: GI) as disclosed in its news release dated February 24, 2017, has completed a private placement through the issuance of 18,000,000 units at a price of $0.05 per unit. The funds will in part be used towards advancing its Dala Project in Angola, which has potential for both new kimberlite discoveries and near term alluvial diamond production. The property was previously explored by Moydow Mines Ltd. during the period 2004 – 2008 at a cost of over US $12 million.  Moydow’s program was focused on kimberlite exploration and discovered several kimberlite pipes using detailed airborne and ground magnetic surveys. The historical data generated from their program also defined multiple geophysical kimberlite targets, including those confirmed by drilling. The kimberlites found were not comprehensively tested, and numerous untested kimberlite targets remain to be evaluated on the property.

The Company is currently in the process of acquiring Moydow’s historical database, and has commissioned an independent due diligence evaluation of the dataset, and the preparation of a NI 43-101 level Independent Technical Report, and updated exploration recommendations for the property.

Denis Hayes, the Company’s CEO stated “We are pleased with the successful completion of our initial private placement, which we see as an initial turn-key event directed towards developing the full potential of our Dala Project.  The acquisition and due diligence on the historical dataset will allow us to focus and fast track our kimberlite and alluvial exploration of the property”.

Ian Ransome, Pri. Sci. Nat., who is a Qualified Person according to NI 43-101, has reviewed and approved the content of this news release.

Gem International Resources Inc.

“Denis Hayes”
Denis Hayes, CEO / Director

Neither 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 press release.

Feb. 24, 2017  |  Gem International Closed Private Placement and Granted Stock Options

Vancouver, British Columbia, Canada, February 24, 2017 – Gem International Resources Inc. (the “Company”) (TSXV: GI) has closed its non-brokered private placement through the issuance of 18,000,000 units at a price of $0.05 per unit for gross proceeds of $900,000. Each unit consists of one common share and one share purchase warrant. Each whole share purchase warrant entitles the holder to purchase one common share of the Company for a term of two years from the date of closing at a price of 15 cents per share. All of the securities issued under the private placement are subject to a four-month hold period expiring June 24, 2017.

The Company also announces the granting of 2,370,000 incentive stock options to certain directors, officers and consultants. These options are exercisable for up to three years at a price of $0.10 per share.

On behalf of the Board of
GEM INTERNATIONAL RESOURCES INC.

Simon Tam
Simon Tam, Director 

Neither 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 press release.

Feb. 1, 2017  |  Gem International Resources Inc. Announces Increase in Private Placement Offering

February 1, 2017 — Further to its news release of January 24, 2017 and January 25, 2017, Gem International Resources Inc. announces that it is increasing its offering from $500,000 to an offering of up to $900,000 for the sale of up to 18,000,000 units at a price of $0.05 per unit. Each unit will consist of one common share and one non-transferable share purchase warrant for the purchase of one further common share of the Company within two years of the date of grant at the price of $0.15 per such common share.

The Financing is subject to regulatory approval and customary resale restrictions.

A maximum allowable finder’s fee for funds raised may be payable in cash, shares or warrants in accordance with the policies of the TSX Venture Exchange.

On behalf of the Board of
GEM INTERNATIONAL RESOURCES INC.

“Denis Hayes”
Denis Hayes, CEO / Director

Neither 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 press release.

Jan. 25, 2017  |  Gem International Resources Inc. Announces Increase in Private Placement Offering

January 25, 2017 — Further to its news release of January 24, 2017, Gem International Resources Inc. announces that it is increasing its offering from $500,000 to an offering of up to $600,000 for the sale of up to 12,000,000 units at a price of $0.05 per unit. Each unit will consist of one common share and one non-transferable share purchase warrant for the purchase of one further common share of the Company within two years of the date of grant at the price of $0.15 per such common share.

The Financing is subject to regulatory approval and customary resale restrictions.

A maximum allowable finder’s fee for funds raised may be payable in cash, shares or warrants in accordance with the policies of the TSX Venture Exchange.

On behalf of the Board of
GEM INTERNATIONAL RESOURCES INC.

“Denis Hayes”
Denis Hayes, CEO / Director

Neither 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 press release.

Jan. 24, 2017  |  Dala Project Agreement Amended and Private Placement

Gem International Resources Inc. (the “Company”) (TSXV: GI) is pleased to announce that subsequent to its news release dated January 9, 2017, it has entered into an agreement (the “Amendment Agreement”) with Global Gems International Limited (“Global Gems”) to amend its existing arrangement for the earn-in of an interest in the Dala diamond exploration Project in the Lunda Sul Province in Angola.

As announced earlier, Global Gems holds a 45% interest in the Dala Project. The Amendment Agreement provides that the Dala Project would be enlarged to include exploration and exploitation rights for kimberlites within the Dala License including the 6 known kimberlite pipes located by previous operators. These only received very limited exploration and have not been fully evaluated. Numerous magnetic kimberlite targets remain untested at Dala and an extensive data base exists.

Under the Amendment Agreement the Company may acquire 88% of Global’s 45% interest in the restructured Dala Project by paying to Global Gems the amounts of US$300,000 on or before each of the 3rd and 4th anniversaries of TSX Venture approval and US$400,000 on or before the 5th anniversary of such approval. The Company would also be required to incur US$13,000,000 in exploration and development expenditures over 5 years (US$3,000,000 for each of year 1 (which must be raised and paid by May 31, 2017) and year 2, US$2,000,000 for year 3, and US$2,500,000 for each of years 4 and 5). The US$300,000 already provided to Global Gems as start-up capital would be credited against year 1 expenditures.  The Company shall be entitled to a share of any revenues generated from saleable products, if any, from the property prorated to the proportion of expenditures spent to the total expenditures to be spent under the Amendment Agreement.

The Company will also be required issue to the principals of Global Gems 30,000,000 shares (10,000,000 shares on each of the 3rd, 4th and 5th anniversaries of TSX Venture approval).  After completing the private placement of not less than CDN$500,000, the Company will pay to Global Gems the amount of US$150,000 (the “Payment”), which also will be credited against year 1 expenditures.

Accordingly, the Company intends to carry out a private placement (the “Financing”) to raise proceeds of up to CDN$500,000 from the sale of up to 10,000,000 units at a price of CDN$0.05 per unit.  Each unit will consist of one common share and one non-transferable share purchase warrant for the purchase of one further common share of the Company within two years of the date of grant at the price of $0.15 per such common share.

The funds raised will be used for Company working capital, the Payment, and the preparation of legal documents and regulatory approval costs related to the closing of the Amending Agreement.

The Financing is subject to regulatory approval and customary resale restrictions.

A maximum allowable finder’s fee for funds raised may be payable in cash, shares or warrants in accordance with the policies of the TSX Venture Exchange.

On behalf of the Board of
GEM INTERNATIONAL RESOURCES INC.

“Denis Hayes”
Denis Hayes, CEO / Director

Neither 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 press release.

Jan. 9, 2017  |  Gem International Arranges Private Placement

Gem International Resources Inc. (the “Company”) (TSXV: GI) wishes to announce that it has entered into discussions with Global Gems for amendments of its existing arrangement for the earn-in of an interest in the diamond exploration Dala project in the Lunda Sul Province in Angola. Readers are advised that the following discussion points are subject to finalization and execution of amendment agreement documentation and such terms and conditions are subject to change without notice. As announced earlier, Global Gems holds a 45% interest in the Dala project. The Project would be enlarged to include exploration and exploitation rights for 6 known kimberlite pipes. The Company would acquire 88% of such 45% interest in the restructured Dala project by paying to Global Gems the amounts of US$300,000 upon TSX Venture approval, US$300,000 on or before the 2ndanniversary of such approval and US$400,000 on or before the 3rd anniversary of such approval. The Company would incur US$13,000,000 in exploration and development expenditures over 5 years (US$3,000,000 for each of year 1 and year 2, year 3 – $2,000,000; and $2,500,000 for each of years 4 and 5). Credit for $300,000 provided as start-up capital would be credited against year 1 expenditures. The Company will also be required issue to the principals of Global Gems 30,000,000 shares over 5 years (7,500,000 shares on each of TSX Venture approval and the 2nd anniversary of such approval and 5,000,000 on the 3rd, 4th and 5th anniversaries of such approval). Upon the execution of an agreement for the foregoing, the Company will pay to Global Gems the amount of US$100,000 (the “Payment”), which will be credited against year 1 expenditures.

Accordingly, the Company intends to carry out a private placement raising proceeds of $400,000 for the sale of up to 8,000,000 units at a price of $0.05 per unit.  Each unit will consist of one common share and one non-transferable share purchase warrant for the purchase of one further common share of the Company within two years of the date of grant at the price of $0.15 per such common share.

The funds shall be used for the Company’s working capital and related to the preparation of documents for regulatory approval of the foregoing proposed arrangement as well as the Payment. The Financing is subject to regulatory approval and customary resale restrictions.

The maximum allowable finder’s fee shall be paid in cash, shares or warrants in accordance with the policies of the TSX Venture Exchange. 

On behalf of the Board of
Gem International Resources Inc.

“Simon Tam”
Simon Tam, Director

Neither 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 press release.

2016

Sept. 19, 2016  |  Gem International Arranges $3M Private Placement

Vancouver, British Columbia, Canada, September 19, 2016 – Gem International Resources Inc. (the “Company”) (TSXV: GI) wishes to announce that it intends to carry out a private placement raising proceeds of $3,000,000 for the sale of up to 30,000,000 units at a price of $0.10 per unit.  Each unit will consist of one common share and one non-transferable share purchase warrant for the purchase of one further common share of the Company within two years of the date of grant at the price of $0.20 per such common share.

The funds shall be used for the Company’s working capital, the preparation of documents for regulatory approval of the Company’s option agreement pertaining to the Dala diamond exploration project in Angola as previously announced (the “Transaction”) and business operations of the Company following the completion of the Transaction. The Financing is subject to regulatory approval and customary resale restrictions.

The maximum allowable finder’s fee shall be paid in cash, shares or warrants in accordance with the policies of the TSX Venture Exchange. 

On behalf of the Board of
Gem International Resources Inc.

Per:

“Simon Tam”
Simon Tam, Director
Neither 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 press release.

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