Deal funds development of Gahcho Kue project and corporate purposes
By Devika Patel
Knoxville, Tenn., Sept. 30 – Mountain Province Diamonds Inc. said it will raise C$75 million in a brokered private placement of stock. It also will raise C$25 million in a non-brokered private placement of stock for a total of C$33.01 million.
The company will sell 20 million common shares at C$5.00 per share. Of the shares, 15 million will be sold in the brokered offering with the remaining 5 million sold on a non-brokered basis.
The price per share is an 11.19% discount to the Sept. 29 closing share price of C$5.63.
The brokered sale will be conducted on a bought-deal basis by a syndicate of underwriters led by BMO Capital Markets, RBC Capital Markets and Scotia Capital Inc.
Bottin (International) Investments Ltd. will participate in the non-brokered sale.
Settlement is expected Oct. 16.
Proceeds will be used for development of the Gahcho Kue project and general corporate purposes.
The diamond exploration and development company is based in Toronto.
| Issuer: | Mountain Province Diamonds Inc.
|
| Issue: | Common shares
|
| Amount: | C$100 million
|
| Shares: | 20 million
|
| Price: | C$5.00
|
| Warrants: | No
|
| Agents: | BMO Capital Markets, RBC Capital Markets and Scotia Capital Inc. (leads, for C$75 million), non-brokered (for C$25 million)
|
| Investor: | Bottin (International) Investments Ltd.
|
| Pricing date: | Sept. 30
|
| Settlement date: | Oct. 16
|
| Stock symbol: | Toronto: MPV
|
| Stock price: | C$5.63 at close Sept. 29
|
| Market capitalization: | C$593.82 million
|
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