VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/19/13 -- This press release is issued by Newstar Securities SRL ("Newstar"), a company wholly-owned by Robert M. Friedland, pursuant to the early warning requirements of National Instrument 62-103 with respect to the common shares of Peregrine Diamonds Ltd. (the "Company").
In October, 2012, Newstar acquired ownership and control of 16.4 million common shares of the Company, representing approximately 12.722% of the Company's then issued and outstanding common shares, in a private placement (the "October 2012 Private Placement"). The aggregate purchase price for the common shares was Cdn$8,200,000 (representing a per common share price of Cdn$0.50).
Following the October 2012 Private Placement, Newstar beneficially owned 17,055,659 common shares (including 38,571 unissued common shares issuable upon the exercise of share purchase warrants), representing 13.233% of the Company's then issued and outstanding common shares. All of these securities are beneficially owned and controlled by Newstar.
Newstar acquired the common shares for investment purposes. Newstar has agreed to purchase from the Company, by way of a private placement scheduled to close in June 2013, an additional 3.6 million common shares. Depending on economic or market conditions or matters relating to the Company, Newstar may choose to either acquire additional common shares or dispose of common shares of the Company.
For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial securities legislation in connection with the transactions hereunder please go to the Peregrine Diamonds Ltd. profile on SEDAR website www.sedar.com.
Signed "Robert M. Friedland" Robert M. Friedland
Contacts:
Penny Schattenkirk
+1.604.331.9801
