MONTREAL, Jan. 7, 2004 (PRIMEZONE) -- Diamond Discoveries International Corp. (OTCBB:DMDD) is pleased to announce that it has engaged New York based May Davis Group to render investment banking services. The scope of the agreement includes but is not limited to: Introduction to capital sources, strategic relationships and on a best efforts basis raising $2 million U.S.D. over a 12-month period. DMDD will issue 250,000 restricted shares as compensation for the engagement. May Davis has an opportunity to earn additional restricted shares as corporate finance goals are achieved.
"May Davis will provide DMDD with the investment banking services required to meet the needs of our business plan, which includes commencing our drill program in the spring of 2004," said Ed Williams, CFO of DMDD. "We expect the first $500,000 by the end of January."
"We are looking forward to being involved with DMDD's diamond exploration program in northern Quebec," said Owen May, Chairman of May Davis Group. "Canada has become a world leader in diamond production and after reviewing DMDD's technical data we see great potential in this particular project."
About Diamond Discoveries International Corp.
Diamond Discoveries International Corp. is a U.S. company with its executive office in Montreal, Quebec. The diamond exploration company is focused on exploring mineral resources on its approximately 130,000-acre Torngat property in northern Quebec.
About May Davis Group Inc.
May Davis Group Inc. is a full-service investment banking firm located on Wall Street. The firm has a proven track record of meeting the most diverse needs of today's most promising emerging growth companies. The company specializes in providing small to mid-size growth companies with financial services necessary to help them compete in today's challenging economic climate.
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CONTACT Diamond Discoveries International Corp.
Mr. Ed Williams, C.F.O.
ewilliamsfinance@bellsouth.net