Deal funds development of the Gahcho Kué project, corporate purposes
By Devika Patel
Knoxville, Tenn., March 28 - Mountain Province Diamonds Inc. said it raised C$17.85 million in a brokered private placement of stock. It also completed a C$10.39 million non-brokered private placement of stock at the same price. Both deals priced on March 11.
The company sold common shares at C$5.10 per share.
The price per share is a 7.27% discount to the March 10 closing share price of C$5.50.
The brokered sale was conducted on a bought-deal basis by a syndicate of underwriters led by BMO Capital Markets and including RBC Dominion Securities Inc.
Proceeds will be used for development of the Gahcho Kué project and for general corporate purposes.
The resource property exploration and development company is based in Toronto.
| Issuer: | Mountain Province Diamonds Inc.
|
| Issue: | Common shares
|
| Amount: | C$28.24 million
|
| Price: | C$5.10
|
| Warrants: | No
|
| Agents: | BMO Capital Markets (lead), RBC Dominion Securities Inc., non-brokered (for C$10.39 million)
|
| Pricing date: | March 11
|
| Settlement date: | March 28
|
| Stock symbol: | Toronto: MPV
|
| Stock price: | C$5.50 at close March 10
|
| Market capitalization: | C$530.65 million
|
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