Offering funds expenditures at Gahcho Kue project, corporate purposes
By Devika Patel
Knoxville, Tenn., June 13 – Mountain Province Diamonds Inc. said it increased its non-brokered private placement of stock to about C$45 million from about C$35 million due to strong demand. The deal priced on May 28.
The company is selling common shares at C$5.00 apiece, which is identical to the May 27 closing share price.
Settlement is expected June 20.
Proceeds will be used for capital expenditures at the Gahcho Kue project and for general corporate purposes.
The diamond exploration and development company is based in Toronto.
| Issuer: | Mountain Province Diamonds Inc.
|
| Issue: | Common shares
|
| Amount: | C$45 million (approximate)
|
| Price: | C$5.00
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | May 28
|
| Upsized: | June 13
|
| Settlement date: | June 20
|
| Stock symbol: | Toronto: MPV
|
| Stock price: | C$5.00 at close May 27
|
| Market capitalization: | C$530.2 million
|
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