Peregrine Diamonds Ltd. PGDIF

Closing of the Rights Offering

[HAYMAC]

Based on the following saga I think it is safe to confirm that the Jan 28 news release announcing the Rights closing for gross proceeds of $5.64 million includes all rights exercised and over subscritions, so the company came up short of a maximum $7 million by $1.36 million. Achieving 80% isn't so bad in this economic environment.
My saga is that I excercised my 400,000 warrants and requested an over subscription of 200,000 additional shares @$0.10. My rights were in my Investorline account so I called BMO and spoke to a trader and gave him my instructions. For what ever reason Investorline was much slower than many of the other on line brokerages at settling these transactions. On Monday I recieved my 100,000 shares from the rights I exercised. Last night I checked my account to see if I received any portion of the 200,000 oversubscribed shares I had requested. To my amazement there were an additional 800,000 shares in the account. After repeated conversations with BMO today it turns out that the trader I had given instructions to, asked for 800,000 rights that could be subsequently exercised into 200,000 shares, but BMO backroom interpreted his request as being 800,000 additional shares! I accounted for 300,000 of todays 665,000 share volume.
Needless to say it appears that there were lots of unscribe shares available from the last offering.