Stornoway Raises Over $1M in Private Placement

Stornoway Diamond Corp has raised $1.3 million in a private placement of shares via private placement memorandum (PPM). The company placed 8,421,276 flow-through common shares, with Sandfire Securites Inc. as its agent, and including Canaccord Capital Corporation and Haywood Securities Inc. The proceeds from the placement will be used primarily to fund Stornoway’s share of exploration on the Renard Diamond Project in Quebec, company spokespersons said.

The shares, priced at CAD 0.17 per share, are subject to a four-month hold period that will expire on September 30, 2009. The company fell short of its initial target of raising $1.8 million (CAD 2 million) at CAD 0.22 per share in the placement. Stornoway explores for diamonds in Canada.

About PPM

PPM is the leading U.S. entrepreneurial firm that specializes in writing private placement memorandums (PPM) and linking investors with entrepreneurs.

Since 1999, the founders of PPM have provided professional business writing services, such as a PPM or business plan, to more than 2,000 businesses worldwide. Our company is considered to be the most cost effective, efficient consultants for private placement memorandum development in the United States. We are Wall Street’s, and by extension, the New York private placement (PPM) leaders.’s main service is the creation of private placement memorandum regulation d (Reg. d) documents. However, we offer much more. In case the entrepreneur needs additional services, such as a business plan, website, or additional legal work, PPM can create one pricing package for all required documentation or service. Because we simultaneously work with many companies both in and out of the U.S., the ability to adapt to the individual needs – as well as to regional and global demands – helps our clients save needed capital and time.

We are leaders in:

• New York Private Placement
• Diamond Private Placement
• Technology Private Placement
• Debt Private Placement
• Equity Private Placement
• Technology Private Placement Memorandum Writing
• New York Private Placement Memorandum Writing
• Diamond Private Placement Memorandum Writing
• Debt Private Placement Memorandum Writing
• Equity Private Placement Memorandum Writing