A puke of a day.
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Peregrine Diamonds Ltd. ("Peregrine" or the "Company") is pleased to announce that it will be offering rights to holders of its common shares of record at the close of business on November 30, 2015 (the "Record Date"), expiring January 26, 2016 ("Expiry Date"). The offering will be made in all of the provinces of Canada and in such other jurisdictions where the Company is eligible to make such offering. All of Peregrine's executive officers and directors intend to fully participate in the rights offering.
Shareholders of record on November 30, 2015 will receive one right for each common share held. Four (4) rights will entitle the holder to purchase one common share at a price of $0.10 per common share. Exercise of the rights and purchase of the common shares must be completed by 2:00 p.m. (Vancouver time) on the Expiry Date. Shareholders who fully exercise their rights are entitled to subscribe pro rata for additional common shares, if available, that were not subscribed for initially on or before the Expiry Date. A fully subscribed rights offering will raise gross proceeds of $7 million, which will be used to further the remainder of its 2015/2016 Chidliak Diamond Resource Development Program, which includes delivery of a Preliminary Economic Assessment, fund the Company's 2016 Chidliak work program, advance Botswana Exploration and for general corporate purposes and expenses. The proceeds may also be used for working capital.
The common shares of the Company are expected to commence trading on the TSX on an ex-rights basis at the opening of business on November 26, 2015, meaning that common shares purchased on, or following that date will not be entitled to receive the rights under this offering. At that time, the rights are expected to be posted for trading on the TSX on a "when issued" basis and will thereafter trade under the symbol "PGD.RT". Trading of the rights is expected to continue until 9:00 a.m. (Vancouver time) on the Expiry Date.
A rights offering circular together with rights certificates will be mailed to eligible shareholders on or about December 2, 2015. Registered shareholders wishing to exercise their rights must forward the completed rights certificates, along with the applicable funds to Computershare Investor Services Inc. by the Expiry Date. Shareholders who own their shares through an intermediary, such as a bank, trust company, securities dealer or broker, will receive materials and instructions from their intermediary.
Link:
http://www.pdiam.com/s/PressReleases.asp?ReportID=730845&_Type=Press-Releases&_Title=Peregrine-Diamonds-Announces-7.0-Million-Rights-Offering-and-Provides-Chidl...
