Mountain Province Diamonds Arranges C$100 Million Private Placement

Mountain Province Diamonds (TSX:MPV,NYSE MKT:MDM) announced Tuesday that it had signed an agreement with a syndicate of underwriters regarding a bought deal private placement for gross proceeds of C$75,000,000.

As quoted in the press release:

Concurrent with the Offering, the Company intends undertaking a non-brokered private placement (“Non-brokered Private Placement”) of 5,000,000 Common Shares of the Company at a price of C$5.00 per Common Share. The Non-brokered Private Placement will be sold to Bottin (International) Investments Ltd. and other qualified investors.

The Company intends to use the net proceeds of the offering for the continued development of the Company’s Gahcho Kué project and for general corporate purposes.

Click here to read the Mountain Province Diamonds (TSX:MPV,NYSE,MKT:MDM) press release