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Mountain Province Diamonds Announces US$10 Million Additional Borrowings Under Bridge Facility
Mountain Province Diamonds Announces US$10 Million Additional Borrowings Under Bridge Facility ...
About this update from Mountain Province Diamonds Inc.
[{"type":"text","content":"\n\n\n\n Mountain Province Diamonds Announces US$10 Million Additional Borrowings Under Bridge Facility\n \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 Canada NewsWire\n \n\n\n\n\n TSX and OTC: MPVD\n \n\n\n\n\n TORONTO\n \n and\n \n NEW YORK\n \n\n ,\n \n\n July 28, 2025\n \n\n /CNW/ -\n \n Mountain Province Diamonds\n \n\n Inc.\n \n\n (\"\n \n Mountain Province\n \n \" or the \"\n \n Company\n \n \") (TSX: MPVD) (OTC: MPVD) announces today that it has entered into an amendment (the \"\n \n Amendment\n \n \")  to the amended and restated bridge credit facility agreement with Dunebridge Worldwide Ltd., (\"\n \n Dunebridge\n \n \") to increase such the size of the bridge term facility under that agreement by\n \n US$10 million\n \n (the \"\n \n Additional Bridge Term Facility\n \n \"), from\n \n US$30 million\n \n to\n \n US$40 million\n \n .\n \n\n\n The bridge credit facility agreement, which was originally entered into on\n \n February 24, 2025\n \n (and was subsequently amended and restated on\n \n May 13, 2024\n \n , to provide for a\n \n US$33 million\n \n working capital facility), provided for\n \n US$30 million\n \n in immediately available funds to the Company (the \"\n \n Original Bridge Term Facility\n \n \"), with the Additional Bridge Term Facility to be made available to the Company at the discretion of Dunebridge on terms and conditions to be agreed to, which are now represented in the Amendment.\n \n\n The Additional Bridge Term Facility will mature on the same date as the Original Bridge Term Facility, on\n \n March 18, 2026\n \n , and is subject to the same rate of interest of 10.5% per annum, to be capitalized and compounded quarterly on the principal amount and payable on maturity. The interest rate will increase to 12.5% per annum, if the Additional Bridge Term Facility or the Original Bridge Term Facility are not repaid, together with all accrued interest, upon maturity.\n \n\n As consideration for the Additional Bridge Term Facility, the Company will pay Dunebridge a\n \n US$1 million\n \n fee...