VANCOUVER, British Columbia, Sept. 13, 2018 (GLOBE NEWSWIRE) -- Peregrine Diamonds Ltd. (TSX:PGD) (“Peregrine” or “the Company”) announces that De Beers Canada Inc. (“De Beers”) has completed the previously announced acquisition of all of the issued and outstanding shares of Peregrine by way of a plan of arrangement (the “Arrangement”) and is the owner of all of the outstanding securities of Peregrine. The Arrangement was approved by the Supreme Court of British Columbia in its final order dated September 10, 2018.

The Arrangement was completed pursuant to the Canada Business Corporations Act. Pursuant to the terms of the Arrangement, Peregrine shareholders received $0.24 in cash for each Peregrine share held.

Peregrine will be de‑listed from the Toronto Stock Exchange effective September 14, 2018 at the close of trading and Peregrine will cease to be a reporting issuer shortly thereafter.

Peregrine shareholders who have any questions regarding the treatment of their shares should direct their questions to their investment advisor or Corporate Actions at Computershare at +1 800 564 6253.

About Peregrine

Peregrine is a TSX-listed diamond exploration and development company with its primary assets located in northern Canada. Peregrine’s core asset is its 100%-owned, 317,213-hectare Chidliak Project, located 120 kilometres from Iqaluit, the capital of Nunavut. Peregrine also controls the 8,494-hectare Lac de Gras Project in the Northwest Territories, located approximately 27 kilometres from the Diavik Diamond Mine.

About De Beers Group

De Beers Group is a member of the Anglo American plc group. Established in 1888, De Beers Group is the world’s leading diamond company with expertise in the exploration, mining and marketing of diamonds. Together with its joint venture partners, De Beers Group employs more than 20,000 people across the diamond pipeline and is the world’s largest diamond producer by value, with mining operations in Botswana, Canada, Namibia and South Africa. As part of the company’s operating philosophy, the people of De Beers Group are committed to ‘Building Forever’ by making a lasting contribution to the communities in which they live and work, and transforming natural resources into shared national wealth.

For further information about De Beers Group, visit www.debeersgroup.com or contact:

De Beers Group press office
Tel +44 (0) 20 7430 3434
pressoffice@debeersgroup.com

De Beers Canada
Tom Ormsby, Head of External & Corporate Affairs
Tel +403 903 0991 Extension 2703
Mob +1 403 464 5516
tom.ormsby@debeersgroup.com