Proceeds used for initial capital expenditures at Gahcho Kue project
By Devika Patel
Knoxville, Tenn., Nov. 18 - Mountain Province Diamonds Inc. said it increased a non-brokered private placement of stock to C$29.1 million from C$25 million. The deal priced on Nov. 11.
The company is selling 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.
Bottin (International) Investments Ltd. will participate.
Settlement is expected Nov. 22.
Proceeds will be used to support the company's share of initial capital expenditures at the Gahcho Kue project, 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$29.1 million
|
| Price: | C$5.00
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Bottin (International) Investments Ltd.
|
| Pricing date: | Nov. 11
|
| Upsized: | Nov. 18
|
| Settlement date: | Nov. 22
|
| Stock symbol: | Toronto: MPV
|
| Stock price: | C$5.16 at close Nov. 8
|
| Market capitalization: | C$484.97 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
