Business
Mountain Province Diamonds to Acquire Kennady Diamonds in a Friendly All-Share Offer
Mountain Province Diamonds to Acquire Kennady Diamonds in a Friendly All-Share Offer ...
About this update from Mountain Province Diamonds Inc.
[{"type":"text","content":"\n\n\n\nMountain Province Diamonds to Acquire Kennady Diamonds in a Friendly All-Share Offer\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.prngen2{\nBORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: TOP; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prngen3{\nBORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO and NEW YORK, Jan. 29, 2018\n\n\n\nTSX and NASDAQ: MPVDTSX-V: KDI\n\n\n\nTORONTO and NEW YORK, Jan. 29, 2018 /CNW/ - Mountain Province Diamonds Inc. (\"Mountain Province\") (TSX and NASDAQ: MPVD) and Kennady Diamonds Inc. (\"Kennady\") (TSX-V: KDI) are pleased to announce that they have entered into a definitive arrangement agreement (\"Arrangement Agreement\") pursuant to which Mountain Province will acquire all of the issued and outstanding common shares of Kennady by way of a court-approved plan of arrangement (the \"Transaction\").\n\n\n \n \n\n \nUnder the terms of the Transaction, Kennady shareholders will receive 0.975 (the \"Exchange Ratio\") of a Mountain Province common share (a \"Mountain Province Share\") for each Kennady common share (a \"Kennady Share\"), representing the equivalent of C$3.46 per Kennady Share, based on the closing price of Mountain Province Shares on the TSX on January 26, 2018. This Exchange Ratio represents a premium of 26% to Kennady's closing price and a premium of 15% based on the 20-day volume-weighted-average-price of Mountain Province Shares on the TSX and Kennady Shares on the TSX-V, both as of close on January 26, 2018. The implied equity value for Kennady based on the Exchange Ratio is approximately C$176 million. Upon completion of the Transaction, the combined company will be owned approximately 76% by Mountain Province shareholders and 24% by Kennady sha...