|Robert M. Friedland|
January 29, 2016 14:04 ET
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Jan. 29, 2016) – 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 applicable securities legislation and National Instrument 62-103, with respect to securities of Peregrine Diamonds Ltd. (“Peregrine“).
On January 26, 2016, Newstar exercised 68,727,195 rights issued to it by Peregrine in full, resulting in the subscription of 17,181,798 common shares of Peregrine for $0.10 per common share.
As a result of the exercise of rights, Newstar now has actual beneficial ownership of 85,908,993 common shares, representing 25.34% of Peregrine’s outstanding common shares.
Depending on economic or market conditions or matters relating to Peregrine, Newstar may choose to either acquire additional common shares or dispose of common shares of Peregrine.
Newstar reported in a press release dated December 7, 2015, that its deemed beneficial ownership of Peregrine common shares following the close of Peregrine’s rights offering would be 28.65%. Upon completion of the rights offering, Newstar’s actual beneficial ownership is 25.34%.
A copy of the early warning report filed under applicable Canadian provincial securities legislation in connection with this acquisition is available under Peregrine’s profile on the SEDAR website at www.sedar.com.