Sirius Real Estate Regulatory News (SRE)

3 May 2005 06:00

SouthernEra Closes $C690,000 Private Placement Shares Issued and Outstanding: 102,066,601 TSX: SDM AIM: SRE TORONTO, April 29 /CNW/ - SouthernEra Diamonds Inc. (the "Company")(TSX: SDM, AIM: SRE) announced today the closing of a non-brokered privateplacement to the Company's directors, officers and insiders. The financingincluded 1,500,000 units, comprised of one common share and one half commonshare purchase warrant of the Company at a price of C$0.46 per unit. Thewarrants will have a term of two years and an exercise price of C$0.69. Thecommon shares and underlying common shares to the warrants will be subject toa four month hold period. The proceeds from the private placement will be used to support theCompany's African exploration program. SouthernEra Diamonds is one of Canada's largest fully integrated diamondcompanies with extensive diamond exploration in five countries, includingCanada, Australia, Gabon, the Democratic Republic of the Congo and SouthAfrica. This represents one of the most active global diamond explorationprograms. The Company also operates the Klipspringer Diamond Mine in SouthAfrica and maintains an 18 percent free-carried interest in the CamafucaDiamond Project in Angola. For further information: SouthernEra Diamonds Inc., Mr. Chris Reynolds,Senior Vice President and CFO, or Ms. Sharon Allan, Investor Relations,Telephone: (416) 359-9282, Fax: (416) 359-9141, E-mail:inbox(at)southernera.com, www.southernera.com (SDM. SRE) ENDSOUTHERNERA DIAMONDS INC