Peregrine Diamonds Finalizes $2.2M Share Sale

(IDEX Online News) – Peregrine Diamonds Ltd. has completed the sale of 10,441,189 common shares at a price of $0.21 per share for gross proceeds of C$2,192,649.

Proceeds from the share sale will be used for Peregrine's mineral exploration projects in Canada. The shares must be held for six months ending July 1.

The firm's main project is its 100 percent-owned Chidliak project located 120 kilometers from Iqaluit, the capital of Nunavut, where71 kimberlites have been discovered to date.

The average price determined in an independent diamond valuation of a 1013.5-carat diamond parcel collected from the CH-6 kimberlite in 2013 was $213 per carat.

The modeled price ranged from a minimum of $162 per carat to a high of $236 per carat.