Mountain Province Diamonds Announces Court Order

Mountain Province Diamonds Inc. (TSX:MPV,NYSE:MDM) announced that it has received an interim order of the Supreme Court of Ontario.

As quoted in the press release:

On March 13, 2012, Mountain Province announced the Arrangement. Upon completion of the transfer of the Kennady North property and working capital in the amount of approximately C$3M to Kennady Diamonds, Mountain Province intends to distribute the shares of Kennady Diamonds to Mountain Province shareholders on the basis of one Kennady Diamonds share for every five shares of Mountain Province held by shareholders at the Effective Date.  The Arrangement is subject to, among others, a final court order as well as regulatory and shareholder approvals.

Click here to read the Mountain Province Diamonds Inc. (TSX:MPV) press release.