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Mountain Province Diamonds Inc

Published : March 12th, 2014

Announces Increase to Previously Announced Bought Deal Financing to C$17.85M

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Keywords :   Canada | Capital Markets | Diamond | K Street |

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NEWS RELEASE

March 12, 2014

Shares Issued and Outstanding: 100,501,351

TSX: MPV

NYSE MKT: MDM

 

Mountain Province Diamonds Announces Increase to Previously Announced Bought Deal Financing to C$17.85M

 

Not for distribution to U.S. news wire services or dissemination in the United States.

 

Toronto, Ontario - March 12, 2014 - Mountain Province Diamonds Inc. (TSX: MPV / NYSE MKT: MDM) ("Mountain Province" or the "Company") has announced today that, due to strong demand, the Company has increased the size of its previously announced public offering to 3,500,000 common shares (the "Common Shares"), at a price of C$5.10 per Common Share for gross proceeds of C$17,850,000 (the "Offering"). The Offering is being led by BMO Capital Markets.

 

Concurrent with the bought deal private placement, the Company intends undertaking a non-brokered private placement ("Non-brokered Private Placement") of Common Shares of the Company, at a price of not less than C$5.10 per Common Share. The Non-brokered Private Placement may be sold to Bottin (International) Investments Ltd. (controlled by Dermot Desmond) ("Bottin") and other qualified investors.

 

The Company intends to use the net proceeds of the offering for the continued development of the Company's Gahcho Ku? project and for general corporate purposes.

 

The Offering and the Non-brokered Private Placement are expected to close on or about March 28, 2014 and is subject to the Company receiving all necessary regulatory approvals, including the approval of the Toronto Stock Exchange and NYSE MKT.

 

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

 

****

 

About Mountain Province Diamonds

Mountain Province Diamonds discovered the first kimberlite at Kennady Lake in 1995 and in 1997 entered into a joint venture agreement with Monopros, a subsidiary of De Beers. Mountain Province is a 49% participant with De Beers Canada in the Gahcho Ku? JV located in Canada's Northwest Territories. Gahcho Ku? is the world's largest and richest new Diamond mine development. A December 2010 feasibility study filed by Mountain Province (available on SEDAR) indicates that the Gahcho Ku? project has an IRR of 33.9%. Further information is available at www.mountainprovince.com.

 

Forward-Looking Statements

This news release may contain forward-looking statements, within the meaning of the "safe-harbor" provision of the Private Securities Litigation Reform Act of 1995, regarding Mountain Province's business. Actual results could differ materially from those described in this news release as a result of numerous factors, some of which are outside the control of the Company.

 

For further information, please contact:

 

Mountain Province Diamonds Inc.

Patrick Evans, President and CEO

161 Bay Street, Suite 2315

Toronto, Ontario M5J 2S1

Phone: (416) 361-3562

E-mail: info@mountainprovince.com

www.mountainprovince.com

 

 

If you no longer wish to receive news release emails, reply to this message with "UNSUBSCRIBE" in the subject line.

 

Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Mountain Province Diamonds Inc

DEVELOPMENT STAGE
CODE : MDM
ISIN : CA62426E4022
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Mountain Province Diamonds is a diamonds exploration company based in Canada.

Mountain Province Diamonds develops diamonds and gold in Canada, and holds various exploration projects in Canada.

Its main asset in development is BAFFIN ISLAND in Canada and its main exploration properties are BORDEN, GAHCHO KUÉ, TELEGRAPH, KETZA RIVER (EVE / WHITE / WHYTE) and SPRINGTIME in Canada.

Mountain Province Diamonds is listed in Canada and in United States of America. Its market capitalisation is US$ 230.7 millions as of today (€ 219.1 millions).

Its stock quote reached its lowest recent point on February 27, 2009 at US$ 0.54, and its highest recent level on September 18, 2009 at US$ 9.84.

Mountain Province Diamonds has 45 240 000 shares outstanding.

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Financings of Mountain Province Diamonds Inc
3/12/2014Announces Increase to Previously Announced Bought Deal Finan...
3/12/2014Announces C$15.3M Bought Deal Financing
11/18/2013reases Non-Brokered Private Placement to C$29.1M
11/11/2013Announces Non-Brokered Private Placement
Project news of Mountain Province Diamonds Inc
10/6/20152:15 pm Mountain Province Diamonds confirmed that the develo...
8/12/2014Gahcho Kué joint venture welcomes issuance of land use permi...
6/14/2011(Gahcho Kué)De Beers Canada and Mountain Province Diamonds Provide Gahch...
Corporate news of Mountain Province Diamonds Inc
6/22/2016Mountain Province Diamonds Announces Results of Annual Gener...
6/20/2016Mountain Province Updates Gahcho Kué Diamond Mine Developmen...
5/9/2016Mountain Province Updates Gahcho Kué Diamond Mine Developmen...
10/15/2015Mountain Province Appoints Vice President Diamond Marketing
10/6/2015Mountain Province Updates Gahcho Kué Diamond Mine Developmen...
7/16/2015Rio Tinto Reports Sound Q2 Volumes Despite Price Worries - A...
7/7/2015Mountain Province's Gahcho Kué Diamond Mine 62 percent Compl...
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4/20/2015General Moly (GMO) Looks Good: Stock Surges 25.9% - Tale of ...
4/16/2015Will Mountain Province Diamonds (MDM) Continue to Surge High...
4/16/2015FMSA Holdings (FMSA) Jumps: Stock Adds 5.8% in Session - Tal...
4/7/2015Mountain Province Diamonds Closes Term Loan Facility to Fund...
3/31/2015Mountain Province Diamonds C$95M Rights Offering Completed a...
3/20/2015Mountain Province Diamonds (MDM) is Oversold: Can It Recover...
3/17/2015Mountain Province Diamonds Provides Gahcho Kué Project Updat...
3/4/2015Mountain Province Diamonds Announces Diamond Recovery Result...
2/18/2015Mountain Province Diamonds Announces C$95M Rights Offering
2/3/2015Mountain Province Diamonds Announces Credit Approval for US$...
1/8/2015Mountain Province Diamonds Updates Term Loan Facility
1/8/2015Mountain Province Diamonds Updates Term Loan Facility
12/24/2014Gahcho Kué Joint Venture and Deninu Kué First Nation Sign Im...
12/20/2014Mountain Province Diamonds to Begin Trading on NASDAQ Stock ...
12/19/2014Mountain Province Diamonds to Begin Trading on NASDAQ Stock ...
12/16/2014Gahcho Kué Joint Venture and NWT Métis Nation Sign Impact Be...
10/16/2014Mountain Province Diamonds Closes C$100M Bought Deal and Non...
10/16/2014Mountain Province Diamonds Closes C$100M Bought Deal and Non...
8/12/2014Gahcho Kué Joint Venture Welcomes Issuance of Land Use Permi...
7/28/2014Mountain Province Diamonds Appoints Banks to Arrange and Und...
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AMEX (MDM)TORONTO (MPV.TO)
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