In connection with a change in control reported by Peregrine Industries Inc. with GreenStone Industries Ltd, the company's Board of Directors reports the appointment of Mr. Yair Fudim, Chairman of GreenStone, to the positions of Chairman of the Board of Directors and Chief Executive Officer of the company, effective July 22, 2013. Mr. Fudim will join present directors, Messrs. Ivo Heiden and Richard Rubin, resulting in a Board of three members.

On the same date, the company's Board of Directors has also appointed GreenStone's CFO, Ofer Naveh, as CFO of the company. Pursuant to the change in control, Richard Rubin has resigned as CEO and CFO of the company, effective July 22, 2013. Yair Fudim, newly appointed Chairman and CEO of the company, serves as Chairman of the Board of GreenStone since February 2013, prior to which he served as GreenStone's CEO from February 2010 until March 2103.

Since February 2013 Mr. Fudim has been Chairman of the Board of RVB Holdings Ltd. Ofer Naveh, newly appointed CFO, has served as CFO of GreenStone since April 2010. Since November 2011, Mr. Naveh served as CFO of RVB Holdings Ltd. Mr. Naveh served as the Director of Finance of Polar Communications Ltd.