StockMarketWire.com - Paragon Diamonds' shares will likely be delisted within days as it said any conclusion to funding talks related to operations in Lesotho is unlikely by year's end. The delay means on-going talks with several nominated advisors have not been successful.

The company said this means its shares will be delisted at 7am on Dec. 29.

Paragon said its directors had been working to finalise the required funding to bring its Lemphane Kimberlite Pipe Project in Lesotho into production and to enable continued negotiation regarding acquiring a licence to explore the Mothae Kimberlite Resource, also Lesotho.

"The Directors are of the opinion that the value of investors share holdings will not be materially affected by the event of a delisting," the company said in a statement.

"The Company retains the same prospects and remain highly confident that the funding discussion will be concluded successfully in the near future and will enhance the existing value of the Company when finalised.

"The Board continue to seek completion of the required funding as a matter of urgency and will update shareholders regularly via the Companys website, which we encourage shareholders to monitor closely.

"The Company will continue to act in the best interests of all shareholders and, assuming the required funding is obtained, work towards a new listing on AIM or the main market as soon as practicable in 2016."





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