Shares Issued and Outstanding: 115,144,550
NYSE MKT: MDM
The Company has issued 9,105,028 common shares at a price of
Proceeds of the private placement will be used to support the Company's
share of capital expenditures at the Gahcho KuÉ project and for general
corporate purposes. A finder's fee in the amount of
Mountain Province is also pleased to announce that the nominees listed
in the management proxy circular for the 2014 Annual General Meeting of
Shareholders ("Meeting") were elected as directors of the Company.
Detailed results of the vote for the election of directors held at the
|Nominee||Votes For||% For||Votes |
Gahcho KuÉ is the world's largest and richest new diamond development
project. A 2014 NI 43-101 feasibility study report filed by Mountain
Province (available on SEDAR) indicates that the Gahcho KuÉ project has
an IRR of 32.6%.
Overall project development is more than 25 percent complete and
scheduled for first production in H2 2016.
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 and/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.