PGD sale price?These are but a few of the fianncings in past years. The Friedlands et al are so far underwater at the current share price, why would they consider selling now? After all the work/time put in and close to PEA, any offer better be SIGNIFICANTLY higher than the current price for them to even consider a sale.
Peregrine Diamonds Ltd. (“Peregrine”) is pleased to announce the closing of a $10-million financing with Newstar Securities SRL (“Newstar”), a company wholly owned by Robert Friedland, and with Dundee Corporation (“Dundee”) as announced on October 25, 2012. Under the terms of the financing, Newstar purchased 16.4 million shares and Dundee purchased 3.6 million shares of Peregrine from treasury, for a total of 20 million shares, priced at $0.50 per share, for total net proceeds of $10-million.
All of Peregrine’s executive officers and directors intend to fully participate in the rights offering.
Shareholders of record on November 14, 2011 will receive one right for each common share held. Seven (7) rights will entitle the holder to purchase one unit (“Unit”) at a price of $0.85 per Unit. Each Unit will be comprised of one common share and one half of a common share purchase warrant (“Warrant”). Each whole Warrant will entitle the holder to purchase one common share for a term of two years following the Expiry Date of the rights offering at a price of $2.00. Exercise of the rights and purchase of the Units must be completed by 5:00 p.m. (Toronto time) on the Expiry Date. Shareholders who fully exercise their rights are entitled to subscribe pro rata for additional Units, if available, that were not subscribed for initially on or before the Expiry Date. A fully subscribed rights offering will raise gross proceeds of $11,793,444, which will be used for exploration expenses on the Company’s mineral properties and general working capital.
Peregrine Diamonds Ltd. (“Peregrine”) (TSX:PGD) is pleased to announce the completion of a non-brokered private placement of 3,000,000 common shares at a price of $2.80 per share for proceeds of $8.4 million (the “Private Placement”). The common shares issued under the Private Placement were sold on a “flow-through” basis pursuant to the Income Tax Act (Canada) and purchased by institutional investors, whose common advisor is a deemed insider of Peregrine, and the deemed insider’s affiliates and associates. No commission was paid on this Private Placement.