Peregrine Diamonds Ltd. PGDIF

Warrant extension

[Kidlapik]

...not un-heard of..

https://www.stockhouse.com/news/press-releases/2015/03/12/talmora-diamond-announces-extension-of-warrants-to-21-march-2016

[mill44]

Ok, let's say they consider extending the life of the warrants. What can they do to make sure the SP is more favorable later? If they can, is it worth it? A big chunk of the warrants is in their hands and they cannot care too much about couple of cents. If they exercise, there is enough money to last this year. If they need the rest of the money, they can issue new shares to themselves any

[Kidlapik]

1. What can they do to make sure the SP is more favorable later? By completing the 2015 bulk sample program as they are now doing. 2. If they can is it worth it? As a person currently holding warrants I say, yes it is worth it. 3. Big 3 concern? Comes down to exactly WHEN they anticipate needing the rest of the funds, if they need it soon then the big 3 should commit and move forward, if it is

[mill44]

It never crossed my mind that they would go past the end of the year. As a shareholder, if they want to do that, I would prefer if they issued new warrants\rights, whatever, once they complete the program. Everyone is confident that the bulk sample will confirm the existing data. If it does, they can do that in more favorable conditions. Less dilution or more money, better either way. If the

[Kodiboy]

Not sure about this, maybe someone knows off hand, but can they make the warrants more attractive by changing the strike price?

[mill44]

The price does not matter. On Apr 6 the SP will be at the strike price. Lowering the price is actually riskier than keeping it at 21c. What do you think people would do if they heard that the new strike price is at 17c? I would instantly sell shares to match my warrants. So would a few more. That's enough shares to drop the price You have to realize that quite a few people have no intention

[Kodiboy]

All I was wondering was IF they could change the price.

[mill44]

Possibly, but you don't want to, at least not lower.

[mill44]

You said more attractive, which for me means in the money or deeper in the money and on the 6th. That is not likely. It would also mean a lawsuit from Gauwd's grandkids. He would definitely blow the gasket. He sold his warrants for peanuts and now they would drive his remaining shares lower?

[maintenance1]

They can change the price. Yes.

[Kodiboy]

Okay thanks they could change the price if they wanted to.

[rsh]

I disagree: warrants can be extended, but their strike prices can't be lowered.

[mill44]

It would not help, anyways. The SP would just follow it.

[justanormalguy]

Both can be done on the TSX from what I've read.  Issues include insider versus outsider warrants, regulatory approvals, possible shareholder approvals from voting outsiders, the time required to put in place, etc.  I'm not a lawyer and don't understand all of the details.

[maintenance1]

These warrants are from a private placement. Warrant extentions happen when it is in managemants best interests. Our warrants will not be extended. The big three will excersize regardless of the shareprice on the 6th. I still think the warrants could be in the money before April 6th. I am not as confident of that as I once was. It is my opinion that PGD is worth far more than the current price

[mill44]

If you have any doubt that the big 3 would not exercize, you must be really scared by now. The money has to come. If not from the warrants, then from an other financing. If you thought the last one was under bad conditions, what will that one seem?