GREY:PGDIF - Post by User
Post by
bullwhip29on Mar 04, 2011 12:34pm
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Post# 18232723
NR - PEREGRINE COMPLETES $8.4 MILLION PRIVATE PLAC
NR - PEREGRINE COMPLETES $8.4 MILLION PRIVATE PLACDid anyone see this coming? Anyway, this is another reason we are trading way lower than where we were a few weeks ago.
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04/03/2011 9:29:00 AM - News Release
Mr. Eric Friedland reports
PEREGRINE COMPLETES $8.4 MILLION PRIVATE PLACEMENT
Peregrine Diamonds Ltd. has completed a non-brokered private placement of three million common shares at a price of $2.80 per share for proceeds of $8.4-million. 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 that have a common adviser that is a deemed insider of Peregrine, and the deemed insider's affiliates and associates. No commission was paid on this private placement.
The common shares issued under the private placement are subject to a hold period that expires on July 5, 2011. Proceeds from the private placement will be used for Peregrine's mineral exploration projects in Canada.