TORONTO and NEW YORK -
Shares Issued and Outstanding: 60,097,746 TSX: MPV AMEX: MDM
Mountain Province Diamonds Inc. (”Mountain Province” or the “Company”) (TSX: MPV, AMEX: MDM) today announced that the Company is arranging a non- brokered private placement of up to 3 million Units at a price of C$1.50 (US$1.30) per Unit. If fully subscribed, the private placement will raise proceeds of C$4.5M.
Each Unit is comprised of one common share and one-half of a common share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share at an exercise price of C$2.00 (US$1.73 ) within 18 months from closing. Closing is expected on or before July 31, 2009. Net proceeds from the offering will be used to support the development of the Gahcho Kué diamond project and for general corporate purposes.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company’s securities in the United States.
Located in Canada’s Northwest Territories, Gahcho Kué is one of the largest new diamond projects under development globally. The project consists of a cluster of kimberlites, three of which have an indicated resource of approximately 30.2 million tonnes grading at 1.67 carats per tonne (approximately 50.5 million carats) and an inferred resource of approximately 6 million tonnes grading at 1.73 carats per tonne ( approximately 10.3 million carats). Mineral resources that are not mineral reserves do not have demonstrated economic viability.
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.
Note to U.S. Investors
This press release describes minerals which have been classified as “indicated resources” and “inferred resources” under Canadian National Instrument 43-101. We advise U.S. investors that while those terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission do not recognize them. “Inferred resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource as defined under Canadian National Instrument 43-101 will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves nor that part or all of an inferred resource exists, or is economically or legally minable.
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: Mountain Province Diamonds Inc., Patrick Evans , President and CEO, Tel: +1-416-670-5114/
Source: Mountain Province Diamonds Inc.
For further information: Mountain Province Diamonds Inc., Patrick Evans, President and CEO, Tel: +1-416-670-5114
Related Press Releases
ICS Secures Private Placement of One Million UnitsSeptember 29th, 2009 ABBOTSFORD, Canada - ICS Copper Systems Ltd. (ICX: TSX.V) is pleased to announce that it has arranged a non-brokered private placement of 1,000,000 (One Million) units at a price of CDN$0.10 per unit for gross proceeds of CDN$100,000.
Helix BioPharma Closes Private PlacementSeptember 8th, 2009 AURORA, Ontario -
Helix BioPharma Corp. (TSX, FSE: "HBP"; OTCQX: "HXBPF") today announced that it has closed its previously announced private placement of 6,625,000 units at US$2.05 per unit.
Helix BioPharma Announces CDN$13.5 Million Private PlacementSeptember 3rd, 2009 AURORA, Ontario -
Helix BioPharma Corp. (TSX, FSE: "HBP" / OTCQX: "HXBPF") today announced that it has accepted subscriptions for the purchase, by way of private placement, of a total of 6,625,000 units at CDN$2.05 per unit, for gross proceeds totaling CDN$13,581,250.
Frost & Sullivan: The Global SMT Placement Equipment Market at a Crossroads - Focusing on Flexibility is Key to SuccessAugust 24th, 2009 LONDON -
- Frost & Sullivan to Host Analyst Briefing on Global SMT Placement Equipment Market, on Tuesday, 1 September 2009, at 15.00 BST
The global Surface Mount Technology (SMT) placement equipment market is seeing a slump in demand because of cutbacks in capital equipment purchases by Original Equipment Manufacturers (OEMs) and Contract Electronics Manufacturers (CEMs) during the global economic slowdown. Consequentially, many top SMT equipment manufacturers are seeing unprecedented losses.
National Air Cargo Teams Up With Admiral Jeremiah Denton Foundation to Send School Supplies to IraqAugust 16th, 2009 ORCHARD PARK, New York -
- National Air Cargo set to deliver more than 2,200 pounds of school supplies to Iraqi children in Diyala Province
On August 7, 2009 National Air Cargo provided charitable air transport to deliver more than 2,200 pounds of school supplies to schoolchildren in Iraq on behalf of the Admiral Jeremiah Denton Foundation. The supplies were picked up by truck and delivered to Chicago and loaded on air transport for delivery to Iraq, which arrived in the Diyala Province on Saturday, August 15.
TimberWest Announces Intention to Sell Approximately 46,500 Acres of Select Timberland Assets on Vancouver IslandJuly 28th, 2009 VANCOUVER, Canada - TimberWest Forest Corp. ("TimberWest") announced today that it intends to divest up to four discrete timberland properties located on Vancouver Island in the Province of British Columbia, Canada.
Mountain Province Diamonds and De Beers Canada Enter Into Revised and Restated Gahcho Kué Joint Venture AgreementJuly 5th, 2009 TORONTO and NEW YORK -
- Mountain Province Gains Control Over Share of Marketing Rights
Shares Issued and Outstanding: 60,097,746
TSX: MPV
AMEX: MDM
Mountain Province Diamonds Inc. ("Mountain Province" or the "Company") (TSX: MPV, AMEX: MDM) today announced that the Company has entered into an amended and restated joint venture agreement (the "2009 Agreement") with De Beers Canada Inc.
Mountain Province Diamonds Announces Updated Mineral Resource Estimate for Gahcho Kué Diamond ProjectMay 25th, 2009 TORONTO and NEW YORK - Shares Issued and Outstanding: 59,932,381 TSX: MPV AMEX: MDM Indicated Mineral Resource 50.5 Million Carats Inferred Mineral Resource 10.3 Million Carats
Mountain Province Diamonds Inc. (TSX: MPV, AMEX: MDM) (the "Company") today announced the results of an updated mineral resource estimate for the Gahcho Kué diamond project located in Canada's Northwest Territories.
Mechel Completes Its Preferred Shares PlacementApril 2nd, 2009 MOSCOW - Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces the completion of the open subscription placement of its preferred shares. The preferred shares placement was completed April 2, 2009, when the procedures of payment and transition of shares to the buyer occurred.
Mechel Announces Starting Date to Place Its Preferred SharesMarch 25th, 2009 MOSCOW - Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals
companies, announces the starting date to place its preferred shares through
public offering. The decision to increase the company's charter capital through placing
its preferred shares through public offering and the Prospectus of Securities
were approved by the resolution of Mechel OAO's Board of Directors on May 14,
2008.
Related News
CarMax completes private placement of $490 million in asset-backed notesJuly 14th, 2009 CarMax wraps placement of $490 million in notesRICHMOND, Va. — Automotive retailer CarMax Inc.
North American Palladium plans private placement of up to $50 million in notesAugust 18th, 2009 NA Palladium plans placement up to $50M in notesNEW YORK — Canadian precious metals company North American Palladium Ltd. said Monday it has entered into a private placement of up to $50 million in 7 percent secured convertible notes.
HDFC to raise Rs.4,000 crore via private placementJuly 22nd, 2009 MUMBAI - Housing Development Finance Corp (HDFC) Wednesday said it will raise Rs.4,000 crore ($826 million) through private placement of securities. The company has sought its shareholders' approval for issuance of warrants with redeemable non-convertible debentures to qualified institutional buyers not exceeding Rs.4,000 crore, HDFC said in a regulatory statement.
Enterprise announces private sale of $150 million of sharesSeptember 4th, 2009 Enterprise sells $150 million of sharesHOUSTON — Enterprise Products Partners LP, which transports natural gas and oil through its pipeline network, on Friday said it agreed to sell $150 million worth of common stock. The 5.9 million shares representing limited partner interests of Enterprise were placed privately with EPCO Holdings Inc., a privately held affiliate of Enterprise.
Regulate placement agencies: Delhi High CourtMarch 25th, 2009 NEW DELHI - The Delhi High Court Wednesday asked the state government to make laws to regulate the mushrooming placement agencies in the national capital. Expressing a urgent need of having laws and guidelines, a division bench headed by Chief Justice Ajit Prakash Shah and Justice Sanjeev Khanna asked the government to frame a draft and submit it to the court.
Diagnostics product maker Qiagen NV announces offering of new common sharesSeptember 22nd, 2009 Qiagen NV announces offering of new common sharesNetherlands-based diagnostic products maker Qiagen NV announced on Tuesday a placement of 27.5 million newly issued common shares in an international offering. Shares will be offered to institutional investors outside the United States and as a registered offering in the United States, the company said in a statement.
Court issues notice to Delhi government over placement agenciesJanuary 21st, 2009 NEW DELHI - The Delhi High Court Thursday issued notice to the chief secretary of the Delhi government and the Delhi Police Commissioner asking what they are doing to deal with the trafficking of girls and boys and for implementing a law to regulate placement agencies. A division bench headed by Chief Justice Ajit Prakash Shah and Justice Sanjeev Khanna asked the chief secretary and the Delhi Police chief to appear before it Friday asking about their strategy to deal with the issue.
Denied campus placement, IIT-Kanpur student commits suicideJanuary 2nd, 2009 KANPUR - Apparently depressed over the denial of a campus placement, a 26-year-old student of the Indian Institute of Technology-Kanpur (IIT-K) committed suicide Saturday, police and institute officials said. 'G. Suman, a final year student of M.Tech, was found hanging inside his hostel room,' director IIT-K Sanjay Dhande told IANS.
Belden to offer private placement of notes and amends credit facilityJune 24th, 2009 Belden to offer private placement of notesST. LOUIS — Belden Inc.
California governor announces $100,000 reward in arson-caused wildfireSeptember 4th, 2009 Cal governor announces $100,000 reward in wildfireLOS ANGELES — Gov. Arnold Schwarzenegger is offering a $100,000 reward for information leading to the arrest and conviction of whoever set a deadly wildfire north of Los Angeles.
