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RAPAPORT... Peregrine Diamonds Ltd. completed its non-brokered private placement of 10 million common shares at a price of 35 cents per share for gross proceeds of $3.5 million. The common shares issued under the private placement are subject to a hold period of four months plus 1 day. No commissions or finders' fees were paid on the placement. Proceeds from the private placement will be used for exploration and development of Peregrine's projects in Canada and for general working capital purposes. Peregrine has discovered two new diamond districts in Nunavut, Canada -- the Nanuq project in 2007 and the Chidliak project in 2008. Additionally, its 72 percent owned, nine hectare DO-27 kimberlite in the Northwest Territories, located 27 kilometers from the Diavik diamond mine, shows a mineral resource of 18.2 million carats of diamonds.
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