PGD NR
Peregrine lowers price, increases size of financing
2007-12-05 15:57 ET - News Release
Mr. Jim Crawford reports
PEREGRINE DIAMONDS LTD. AMENDS PROPOSED PRIVATE PLACEMENT
Peregrine Diamonds Ltd., further to subscriptions received, has amended the terms of its previously announced proposed non-brokered private placement. Peregrine now expects to raise the increased amount of $4,348,019 by the issuance of 3,952,745 common shares at the lower price of $1.10 per share on a flow-through basis pursuant to the Income Tax Act (Canada).
Peregrine will pay finder's fees of 5 per cent in cash in connection with the proposed private placement. Proceeds from the proposed private placement will be used for Peregrine's mineral exploration projects in Canada.
The proposed private placement is scheduled to close on Dec. 7, 2007, subject to regulatory approval.