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Feb 20, 2008
Peregrine To Raise $5.0 Million
View News Release in PDF Format
Vancouver, British Columbia, Canada - Wednesday, February 20, 2008 -
Peregrine Diamonds Ltd. (TSX:PGD) today announced that it intends to proceed
with a non-brokered private placement of common shares and units for gross
proceeds of up to $5.03 million. A total of 5,750,000 common shares at a
price of $0.44 per share will be sold under the private placement on a
"flow-through" basis pursuant to the Income Tax Act (Canada). In
addition, a total of 6,250,000 "non-flow-through" units consisting
of one common share and one-half of a share purchase warrant will be sold at
a price of $0.40 per unit. One whole share purchase warrant will entitle the
holder to purchase one common share from treasury for a price of $0.50 for a
period of 12 months.
A finder's fee of 5% in cash will be paid on a portion of the private
placement. Proceeds from the private placement will be used for Peregrine's
mineral exploration projects in Canada.
For further information, please contact Brooke Clements, President, Eric
Friedland, CEO, or Peregrine Diamonds Investor Relations, at 604-408-8880 or
at investorrelations@pdiam.com.
Forward-Looking Statements: This document
includes forward-looking statements. Forward-looking statements include, but
are not limited to statements concerning Peregrine's projects and other statements
that are not historical facts. When used in this document, the words such as
"could," "commonly," "confident,"
"plan," "encouraging," "estimate,"
"expect," "anticipated," "intend,"
"imply," "likely," "may,"
"potential," "should," "scheduled," "significant,"
"suggest", and similar expressions are forward-looking statements.
Although Peregrine Diamonds Ltd. believes that its expectations reflected in
these forward-looking statements are reasonable, such statements involve risk
and uncertainties and no assurance can be given that actual results will be
consistent with these forward-looking statements. Important factors that
could cause actual results to differ from these forward-looking statements
are disclosed in the corporation's periodic filings with Canadian regulators.
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