Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 21, 2013) – 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”).
On June 20, 2013, Newstar acquired ownership and control of 3.6 million common shares of the Company, representing approximately 2.6% of the Company’s then issued and outstanding common shares, in a private placement (the “June 2013 Private Placement”). The aggregate purchase price for the common shares was Cdn$1,260,000 (representing a per common share price of Cdn$0.35).
Following the June 2013 Private Placement, Newstar beneficially owned 20,755,659 common shares (including 38,571 unissued common shares issuable upon the exercise of share purchase warrants), representing 14.9% 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. 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.
