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Peregrine Diamonds Closes $15M Rights Offering

Oct 8, 2014 1:35 PM   By Jeff Miller
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RAPAPORT...  Peregrine Diamonds Ltd.  announced that its rights offering of $15,103,535, which was announced on August 25, has been completed in full. An aggregate of 71,921,597 units, each unit comprised of one common share and one warrant, were issued pursuant to the offering and each warrant entitles the holder to purchase one common share for a term of six months at a price of 21 cents. Proceeds from the rights offering will fund exploration expenditures and to pay general administrative expenses.

Approximately 76 percent of the shares was issued in the basic subscription, while 4 percent of the shares was issued in the additional subscription and the balance was issued pursuant to a standby commitment agreement.  As a result,  a total of 215,764,791 common shares of Peregrine are now issued and outstanding.


 

Tags: financing, Jeff Miller, mining, Peregrine Diamonds
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