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Mountain Province Diamonds Inc

Published : November 18th, 2013

reases Non-Brokered Private Placement to C$29.1M

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Keywords :   Canada | Carats | Diamond | K Street |

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NEWS RELEASE

 

 

November 18, 2013

Shares Issued and Outstanding: 94,522,151

TSX: MPV

NYSE MKT: MDM

 

 

Mountain Province Diamonds Increases

Non-Brokered Private Placement to C$29.1M

 

Toronto and New York, November 18, 2013 - Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX: MPV, NYSE MKT: MDM) today announced an increase to its previously announced non-brokered private placement of common shares. Due to strong support from existing shareholders, the private placement has been increased from C$25M to C$29.1M.

 

Additional proceeds under the private placement will be used to support the Company's share of initial capital expenditures at the Gahcho Ku? project, the 2014 Tuzo Deep drill program and for general corporate purposes.

 

The private placement is expected to close on or before November 22, 2013, and is subject to regulatory approval.

 

****

 

Mountain Province Diamonds is a 49% participant with De Beers Canada in the Gahcho Ku? JV located at Kennady Lake in Canada's Northwest Territories. The Gahcho Ku? Project consists of a cluster of four diamondiferous kimberlites, three of which have a probable mineral reserve of 31.3 million tonnes grading 1.57 carats per tonne for total Diamond content of 49 million carats.

 

Gahcho Ku? is the world's largest and richest new Diamond development project. A December 2010 feasibility study filed by Mountain Province (available on SEDAR) indicates that the Gahcho Ku? project has an IRR of 33.9%.

 

Qualified Person

This news release has been prepared under the supervision of Carl G. Verley, P.Geo., who serves as the qualified person under National Instrument 43-101.

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 the Company's business or financial condition. 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...
7/7/2015Mountain Province’s Gahcho Kué Diamond Mine 62 percent Compl...
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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