Proceeds used for initial capital expenditures at Gahcho Kué project
By Devika Patel
Knoxville, Tenn., Nov. 27 - Mountain Province Diamonds Inc. said it completed a C$29.45 million non-brokered private placement of stock. The deal priced on Nov. 11 and was increased to C$29.1 million from C$25 million on Nov. 18.
The company sold 5,889,200 common shares at C$5.00 per share. The price per share is a 3.1% discount to the Nov. 8 closing share price of C$5.16.
Proceeds will be used to support the company's share of initial capital expenditures at the Gahcho Kue project and the 2014 Tuzo Deep drill program and for general corporate purposes.
The resource property exploration and development company is based in Toronto.
| Issuer: | Mountain Province Diamonds Inc.
|
| Issue: | Common stock
|
| Amount: | C$29,446,000
|
| Shares: | 5,889,200
|
| Price: | C$5.00
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Bottin (International) Investments Ltd.
|
| Pricing date: | Nov. 11
|
| Upsized: | Nov. 18
|
| Settlement date: | Nov. 27
|
| Stock symbol: | Toronto: MPV
|
| Stock price: | C$5.16 at close Nov. 8
|
| Market capitalization: | C$484.97 million
|
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