www.mountainprovince.com
Under the Offering, each registered holder of common shares
of the Company (the "Shares") as of October 30, 2012 (the
"Record Date") will receive one right (a "Right") for each
Share held. Six (6) Rights plus the sum of C$3.50 are
required to subscribe for one Share. The Rights will expire
at 5:00 p.m. (Toronto time) on November 28, 2012 (the "Expiry
Date"), after which unexercised Rights will be void and
without value. The Rights will be listed on the Toronto Stock
Exchange.
Bottin (International) Investments Ltd. (controlled by Dermot
Desmond) ("Bottin"), currently Mountain Province's largest
shareholder, has advised the Company that it intends to fully
exercise its Rights under the proposed offering. In addition,
the Company has entered into a stand-by agreement with Bottin
in terms of which Bottin has undertaken to fully subscribe
for those Rights Shares not otherwise subscribed for on the
Expiry Date.
Patrick Evans, Mountain Province President and CEO,
commented: "We welcome the strong support from our major
shareholder, Bottin, and are also gratified by the
indications of strong support for the rights offering
received from a significant number of institutional and
retail shareholders."
www.mountainprovince.com
To subscribe for Shares, a completed Rights certificate,
together with payment in full of the Subscription Price for
the Shares subscribed for, must be received by the
subscription agent for the Offering, Computershare Investor
Services Inc. before the Expiry Date of November 28,
2012.
The Rights offering circular (the "Circular"), which contains
instructions on how to exercise the Rights, will be mailed
following the Record Date to all eligible shareholders of
record on the close of business on the Record Date.
This press release should be read together with, and is
qualified in its entirety by the more detailed information
contained in the Circular, which is available at
www.sedar.com.
The Company intends to file with the U.S. Securities and
Exchange Commission a registration statement on Form F-7
covering the offering, and the distribution of Rights and
commencement of the Offering will occur promptly following
the effectiveness of that registration statement.
This news release is not an offer of securities for sale in
the United States. The securities to be offered in the
Offering described above may not be offered or sold in the
United States absent registration under the U.S. Securities
Act, or an exemption from registration. Public offerings of
securities in the United States will be made by means of a
prospectus that may be obtained from the Company that will
contain detailed information about the Company and
management, as well as financial statements.
****
Gahcho Kué 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 Kué project has an IRR of 33.9%.
www.mountainprovince.com
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
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