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Peregrine shareholders approve takeover

 

Last updated 9/14/2018 at 5:29am

De Beers acquisition of Peregrine Diamonds approved by shareholders

Peregrine Diamonds Ltd.

Drilling has outlined roughly 16.4 million carats of diamonds in the top 300 meters of the CH-6 and CH-7 kimberlites at the Chidliak project in Nunavut.

Peregrine Diamonds Ltd. Aug. 31 reported that its shareholders have overwhelmingly approved the arrangement for De Beers Canada Inc. to buy the Nunavut-focused diamond explorer.

In July, De Beers agreed to acquire Peregrine in a cash deal worth roughly C$107 million. Under the terms of the agreement, De Beers is to acquire all of Peregrine's outstanding common shares for C24 cents each, a 50 pe...



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