Peregrine Diamonds Raising $2.2M in Share Placement

(IDEX Online News) – Peregrine Diamonds Ltd. has carried out a non-brokered private placement of 10,441,189 common shares at a price of $0.21 per share for gross proceeds of $2,192,649.

Proceeds from the placement will be used for Peregrine's mineral exploration projects in Canada. The Placement is subject to regulatory approval.

The common shares issued under the placement will be sold on a "flow-through" basis pursuant to the Income Tax Act (Canada) and purchased by institutional investors and certain directors of the company.

Peregrine will pay a cash finder's fee of approximately $128,971 in connection with placement proceeds from placees introduced by Secutor Capital Management Corp., an Investment Industry Regulatory Organization of Canada member firm.