www.mountainprovince.com
The balance of the rights shares were taken up by Bottin (International) Investments Ltd. (controlled by Dermot Desmond), currently Mountain Province's largest shareholder, which provided a standby commitment to subscribe for those rights shares not otherwise subscribed for on the exercise of the rights.
Patrick Evans, Mountain Province President and CEO, said: "We are pleased with the strong support our rights offering received from shareholders and welcome the continuing support of our major shareholder. The proceeds of the offering will be used primarily to fund Mountain Province's 49 percent share of the 2013 capital budget for the development of the Gahcho Kué diamond mine. Permitting of the project continues to progress on schedule with the final public hearing under the environmental review schedule for next week. Subject to the successful permitting, we expect construction of the mine to commence next year".
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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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