Newstar/Friedland acquires 3.6 M more shares Newstar Securities SRL, a company wholly owned by Robert M. Friedland, has provided information pursuant to the early warning requirements of National Instrument 62-103 with respect to the common shares of Peregrine Diamonds Ltd.
In October, 2012, Newstar acquired ownership and control of 16.4 million common shares of the company, representing approximately 12.722 per cent of the company's then issued and outstanding common shares, in a private placement. The purchase price for the common shares was $8.2-million (representing a per common share price of 50 cents).
Following the October, 2012, private placement, Newstar beneficially owned 17,055,659 common shares (including 38,571 unissued common shares issuable upon the exercise of share purchase warrants), representing 13.233 per cent of the company's then issued and outstanding common shares. All of these securities are beneficially owned and controlled by Newstar.
Newstar acquired the common shares for investment purposes. Newstar has agreed to purchase from the company, by way of a private placement scheduled to close in June, 2013, an additional 3.6 million common shares. Depending on economic or market conditions or matters relating to the company, Newstar may choose to either acquire additional common shares or dispose of common shares of the company.