Peregrine Diamonds Announces Receipt of Interim Court Order and Special Meeting for Arrangement with De Beers Canada

July 30, 2018 PDF version

VANCOUVER, CANADA – Peregrine Diamonds Ltd. (TSX:PGD) (“Peregrine” or “the Company”) is pleased to announce that Peregrine has been granted an interim order from the Supreme Court of British Columbia authorizing various matters, including the holding of a special meeting of Peregrine shareholders, optionholders and warrantholders (collectively, “Securityholders”) to consider the arrangement (the “Arrangement”) between Peregrine and De Beers Canada (“De Beers”) that was announced earlier this month.

Under the Arrangement, among other things, De Beers will acquire all of the issued and outstanding common shares of Peregrine for cash consideration of C$0.24 per share.

Peregrine will be seeking Securityholder approval for the Arrangement under the Canada Business Corporations Act (the “CBCA”). The special meeting of Securityholders to consider the Arrangement will be held on Friday, August 31, 2018 at 10:00 am (Pacific time) at Suite 654 – 999 Canada Place, Vancouver, British Columbia. Securityholders of record as of the close of business on July 25, 2018 are eligible to vote on the Arrangement at the special meeting. Shareholders will be also be asked to approve a reduction in the stated capital of the common shares of the Company so that the Company may use the Arrangement provisions contained in the CBCA. The Board of Directors of Peregrine has unanimously recommended that Securityholders vote FOR the Arrangement and that shareholders vote FOR the stated capital reduction.

A notice of meeting and management proxy circular and other proxy materials will be mailed to the Securityholders on or about August 8, 2018. After mailing, the documents will also be available under Peregrine’s profile on SEDAR at and Peregrine’s website at

About Peregrine

Peregrine is a TSX-listed diamond exploration and development company with its primary assets located in northern Canada. Peregrine’s core asset is its 100%-owned, 317,213-hectare Chidliak Project, located 120 kilometres from Iqaluit, the capital of Nunavut, where 74 kimberlites have been discovered to date, with eight being potentially economic.

A Preliminary Economic Assessment (“PEA”), dated effective May 23, 2018, details the Chidliak 2018 PEA and is available in a National Instrument (“NI”) 43-101 technical report titled “Updated Preliminary Economic Assessment NI 43-101 Technical Report Chidliak Project, Nunavut, Canada”, available on SEDAR and the Company’s website.

The Chidliak 2018 PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. There is no certainty that the PEA will be realized.

Peregrine also controls the 8,494-hectare Lac de Gras Project in the Northwest Territories, located approximately 27 kilometres from the Diavik Diamond Mine. For information on data verification, exploration information, and resource estimation procedures see the NI 43-101 technical report entitled “Peregrine Diamonds Limited Lac de Gras Project, Northwest Territories, Canada NI 43-101 Technical Report” dated effective July 15, 2014, which is available on SEDAR and the Company’s website.

About De Beers Group

De Beers Group is a member of the Anglo American plc group. Established in 1888, De Beers Group is the world’s leading diamond company with expertise in the exploration, mining and marketing of diamonds. Together with its joint venture partners, De Beers Group employs more than 20,000 people across the diamond pipeline and is the world’s largest diamond producer by value, with mining operations in Botswana, Canada, Namibia and South Africa. As part of the company’s operating philosophy, the people of De Beers Group are committed to ‘Building Forever’ by making a lasting contribution to the communities in which they live and work, and transforming natural resources into shared national wealth. For further information about De Beers Group, visit

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