GREY:PGDIF - Post by User
Post by
myview1on Dec 10, 2007 9:10am
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Post# 13993510
PP Closing
PP Closing
Peregrine Diamonds Ltd. Announces Closing of $4.3 Million Private Placement
Dec 10, 2007 8:40:00 AM
VANCOUVER, BRITISH COLUMBIA,--(Marketwire - Dec. 10, 2007) - (TSX:PGD) ("Peregrine") announces that on December 7, 2007, it completed its non-brokered private placement by issuing a total of 3,952,745 common shares at a price of $1.10 per share for gross proceeds of $4,348,019. The common shares were issued on a "flow-through" basis pursuant to the Income Tax Act (Canada) and are subject to a hold period that expires on April 8, 2008.
Peregrine paid finder's fees of 5% in cash 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 .
Peregrine is a Canadian diamond exploration/development company that is managed by experienced geoscientists. The Company is completing a Preliminary Technical Assessment on the nine hectare DO-27 kimberlite and is evaluating other diamondiferous kimberlites it has discovered on its extensive land holdings in Canada. Peregrine trades on the under the symbol "PGD".
FOR FURTHER INFORMATION PLEASE CONTACT: Jim Crawford Manager - Investor Relations (604) 408-8880 Fax: (604) 408-8881 (FAX) Email: jim@pdiam.com Website: www.pdiam.com Source: