September 09, 2008
Peregrine Diamonds Announces Closing of Private PlacementPeregrine Diamonds Ltd. ("Peregrine") (TSX:PGD) is pleased to announce that it has completed a non-brokered private placement of common shares for gross proceeds of approximately $2.8 million. A total of 5,306,407 common shares at a price of $0.53 per share were sold under the private placement on a "flow-through" basis pursuant to the Income Tax Act (Canada). The shares issued under the private placement were purchased by two institutional investors and are subject to a hold period in Canada until January 9, 2009. The 5,306,407 common shares represented the maximum number of shares approved for issuance to these institutions by the Toronto Stock Exchange.
Peregrine paid a finder's fee of 5% cash to Dundee Securities Corporation in connection with the private placement.
Proceeds from the private placement will be used for Peregrine's mineral exploration projects in Canada.
The private placement is subject to final acceptance by the Toronto Stock Exchange.
For further information, please contact Brooke Clements, President, Eric Friedland, CEO, or Peregrine Diamonds Investor Relations, at 604-408-8880 or at firstname.lastname@example.org.
View News Release in PDF Format:
You can view the Next Press Releases item: Wed Sep 10, 2008, Peregrine Discovers Third Kimberlite At Chidliak, Baffin Island
You can view the Previous Press Releases item: Wed Sep 3, 2008, Peregrine Announces New Kimberlite Discovery at Nanuq North, Nunavut
You can return to the main Press Releases page, or press the Back button on your browser.