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Mountain Province Diamonds Update on Special Meeting Business
Mountain Province Diamonds Update on Special Meeting Business Canada NewsWire ...
About this update from Mountain Province Diamonds Inc.
[{"type":"text","content":"\n \n \n \n Mountain Province Diamonds Update on Special Meeting Business\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 Nov. 21, 2022\n \n \n \n /CNW/ - Mountain Province Diamonds Inc. (\"Mountain Province\" or the \"Company\") (\n \n TSX:\n \n MPVD) (OTC:\n \n MPVD\n \n ) today announces that it has issued an amendment to its management information circular dated\n \n October 28, 2022\n \n (the \"Circular\") relating to the special meeting of shareholders scheduled for\n \n December 1, 2022\n \n (the \"Special Meeting\").  In order to give shareholders additional time to review and consider the amended Circular, the Company intends to adjourn the Special Meeting until\n \n December 12, 2022\n \n at 10:00 a.\n \n m\n \n . Eastern Time.\n \n \n \n As disclosed in the Company's press release of\n \n October 27, 2022\n \n , at the Special Meeting the Company will seek approval for a refinancing transaction involving the issuance of approximately\n \n US$195.9 million\n \n aggregate principal amount of new senior secured second lien loan notes (the \"New Loan Notes\") to refinance approximately\n \n US$190.0 million\n \n of the Company's existing 8.000% Senior Secured Second Lien Notes due 2022 (the \"Existing Notes\").\n \n \n The amended Circular was issued to inform shareholders that in connection with the proposed transaction, the interest rate on the Junior Credit Facility (as defined in the Circular) from\n \n December 15, 2022\n \n required clarification.  Mountain Province clarifies its agreement in connection with the issuance of the New Loan Notes that the Junior Credit Facility approved by the shareholders on\n \n February 28, 2022\n \n would have an effective interest rate of 14% per annum after\n \n December 15, 2022\n \n , being a 2% premium over the minimum total yield of 12% guaranteed under the New Loan Notes.\n \n \n Due to the fact that the New Loan Notes are being issued at a discount to par and also contai...