Canada’s Peregrine Diamonds Ltd. has announced a non-brokered private placement of 2,000,000 common shares at a price of $3.00 per share for net proceeds of $6 million (US$5.96 million).

Proceeds from the private placement will be used for Peregrine's mineral exploration projects in Canada.

Since 2007, Peregrine Diamonds has discovered two new Canadian diamond districts, Chidliak on southern Baffin Island and Nanuq in the eastern Arctic region. In addition, Peregrine has established an indicated mineral resource of 18.2 million carats in the DO-27 kimberlite in the Northwest Territories and early stage exploration projects in the Northwest Territories, Baffin Island in Nunavut and Manitoba. In its search for diamonds, Peregrine Diamonds has a secondary focus on exploration for metals deposits.