Business
Kennady Receives Final Court Approval of Business Combination with Mountain Province
Kennady Receives Final Court Approval of Business Combination with Mountain Province ...
About this update from Mountain Province Diamonds Inc.
[{"type":"text","content":"\n\n\n\nKennady Receives Final Court Approval of Business Combination with Mountain Province\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, April 11, 2018\n\n\n\nTORONTO, April 11, 2018 /CNW/ - Mountain Province Diamonds Inc. (TSX and NASDAQ: MPVD) (\"Mountain Province\") and Kennady Diamonds Inc. (TSX-V: KDI) (\"Kennady\") are pleased to announce they have received final approval of the Ontario Superior Court of Justice (Commercial List) for their proposed business combination pursuant to a plan of arrangement (the \"Arrangement\"). Mountain Province and Kennady currently anticipate the closing of the Arrangement to occur on April 13, 2018, subject to the satisfaction or waiver of all conditions precedent.\n\nUnder the terms of the Arrangement, holders of common shares of Kennady (the \"Kennady Shares\") (other than Mountain Province) will be entitled to receive 0.975 common shares of Mountain Province in exchange for each Kennady Share held. Further details regarding the Arrangement are set out in the joint management information circular of Mountain Province and Kennady dated March 5, 2018, which is available on Mountain Province's website at www.mountainprovince.com and on Kennady's website at www.kennadydiamonds.com/investors/mpvd-transaction, and on SEDAR under the issuer profiles of Mountain Province and Kennady, respectively, at www.sedar.com.\n\nAbout Mountain Province Diamonds Inc.\n\nMountain Province Diamonds is a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada's Northwest Territories. Gahcho Kué is the world's largest new diamond mine, consisting of a cluster of four diamondiferous kimberlites, three of which are being developed and mined under the initial 12 year mine plan.\n\nAbout Kennady Diamonds Inc. \n\nKennady Diamonds Inc. owns 100% of the Kennady North diamond project located in Canada's Northwest Territories. Kennady North is adjacent to the Gahcho Kué diamond mine. Kennady is focused on expanding its high-grade diamond resources along the Kelvin-Faraday kimberli...