December 8, 2011
Report Of Acquisition of Shares of Peregrine Diamonds Ltd.
Vancouver, British Columbia, December 8, 2011 - Eric Friedland reports
that he has exercised rights under the rights offering of Peregrine
Diamonds Ltd. (“Peregrine”) completed on December 6, 2011 to acquire
deemed beneficial ownership of a total of 2,818,465 common shares of
Peregrine, representing 2.5% of the deemed outstanding common shares of
Peregrine. Mr. Friedland exercised his rights to purchase 1,878,977
units at $0.85 per unit, each unit consisting of one common share of
Peregrine (for a total 1,878,977 common shares acquired) and one half of
a common share purchase warrant (for a total of 939,488 warrant
underlying common shares acquired).
Mr. Friedland currently has deemed beneficial ownership of 25,626,304
common shares of Peregrine, representing 22.3% of the deemed outstanding
common shares of Peregrine. After other treasury issuances of common
shares by Peregrine, Mr. Friedland’s deemed beneficial ownership of
common shares of Peregrine has increased by 0.3% from the previously
reported percentage of 22.0%.
Common shares of Peregrine acquired by Mr. Friedland have been acquired
for investment purposes. Depending on economic, financial and other
conditions, he may acquire further common shares of Peregrine (through
market or private transactions or exercises of outstanding stock options
and warrants) from time to time.
A copy of the related early warning report may be obtained from the SEDAR website (www.sedar.com
) or from Eric Friedland at (604) 408 8880.
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