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RAPAPORT... Peregrine Diamonds Ltd. announce a non-brokered private placement of 10,441,189 common shares at a price of 21 cents per share for gross proceeds of $2,192,649. Proceeds from the placement will be used for Peregrine Diamonds' mineral exploration projects in Canada.
The placement is subject to regulatory approval. The common shares will be sold on a flow-through basis, pursuant to the Income Tax Act of Canada and purchased by institutional investors and certain directors of the diamond mining company. Peregrine will pay a cash finder's fee of approximately $128,971.
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