Friday, January 29, 2016

Ownership Update

There has been some shuffling over the last couple of weeks as to who owns Chidliak.

First of all...before discussing who owns is a recently revealed showcase diamond of what Chidliak holds.


Size - 5.33 carats
Colour - White/Colourless
Shape - Octahedron
Microscope - No Inclusions
Value - TBD (could be highest at Chidliak)

Now to the ownership update

A couple of weeks ago, this was the ownership breakdown:

Peregrine Diamonds owned 100% of Chidliak proper.
BHP Canada owned a 2% overriding royalty on Chidliak.
Eric and Robert Friedland owned 41.2% of Peregrine Diamonds (undiluted).

Two things have happened since then.

1 - Peregrine Diamonds has managed to dissolve the royalty with BHP for a settlement cost -- Details

2 - A rights offering has completed that has raised CAD$5.64 million. Both Eric and Robert fully subscribed.

Now we have the current ownership:

Peregrine Diamonds owns 100% of Chidliak completely unencumbered.
Eric and Robert Friedland own 42.9% of Peregrine Diamonds (undiluted)
(Eric also owns over half of the outstanding options (53.3%))

Eric and Robert have increased their ownership by 1.7% in Peregrine Diamonds and by default, their ownership in Chidliak.

For a complete list of ownership (including other insiders), please see the ownership page -- Ownership Structure

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