September 9, 2008
Peregrine 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
Back to the News Releases page