August 8, 2006
Vancouver, British Columbia - Tuesday, August 8, 2006 - Peregrine
Diamonds Ltd. (“Peregrine”) announces that it has amended its Stock
Option Plan (the “Plan”) to increase the number of common shares
issuable under the Plan by 540,000 common shares to a maximum of
9,820,868 common shares.
Peregrine has granted stock options under the amended Plan to new
employees and consultants to purchase an aggregate of 540,000 common
shares of the Company at an exercise price of $3.00 per share for a term
of five years. One-third of these options vest on the date of grant and
a further one-third will vest on each of the first and second
anniversaries of the original grant date. These options are subject to
regulatory approval, as well as regulatory and shareholder approvals of
the Plan amendment.
Peregrine has also repriced an option to purchase 300,000 common shares
held by Greg Shenton, Chief Financial Officer of Peregrine, from an
exercise price of $5.00 per share to $3.00 per share, subject to
regulatory approval and disinterested shareholder approval.
Peregrine is a well funded Canadian diamond exploration/development
company that is managed by experienced geoscientists. The company is
taking the plus 9 hectare DO-27 diamondiferous kimberlite into
pre-feasibility, and is exploring for other diamondiferous kimberlites
on its extensive land holdings in Canada. The company trades on the
TSX-V Exchange under the symbol “PGD”.
Peregrine Diamonds Ltd.
Eric Friedland, President and CEO
Alan Carter, COO
For further information, please contact Roberta Voyer, Corporate Administrator, at 604-408-8880.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
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