US$1.2 Billion Acquisition Represents 44% Premium to Dominion’s Unaffected Share Price

 

YELLOWKNIFE, Northwest Territories & MISSOULA, Mont. --  Dominion Diamond Corporation (TSX: DDC, NYSE: DDC) (the “Company” or “Dominion”) and The Washington Companies (“Washington”), a group of privately held North American mining, industrial and transportation businesses founded by industrialist and entrepreneur Dennis R. Washington, today announced that they have entered into an arrangement agreement (the “Arrangement Agreement”) under which an entity affiliated with Washington will acquire all of Dominion’s outstanding common shares for US$14.25 per share in cash or a total equity value of approximately US$1.2 billion pursuant to a plan of arrangement (the “Arrangement”) under the Canada Business Corporations Act. The transaction represents a 44 percent premium to Dominion’s unaffected share price of US$9.92 on March 17, 2017. The transaction marks the result of Dominion's review of strategic alternatives as previously announced on March 27, 2017.

TORONTO and NEW YORK, June 27, 2017  - Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX and NASDAQ: MPVD) today announces the results of its recently completed fifth diamond sale.  The results of the fifth sale, with preceding sale results for comparative context, are summarized as follows:

TORONTO and NEW YORK, April 25, 2017  - Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX: MPVD, NASDAQ: MPVD) today announced the production for the first quarter ended March 31, 2017 from the Gahcho Kué Diamond Mine ("GK Mine").

 

Highlights

The GK Mine declared commercial production on March 1, 2017 having achieved more than 70 percent of nameplate capacity of 8,333 tonnes per day over the preceding 30-day period.

Mining of overburden, waste rock and ore in the 5034 open pit for the three months ended March 31, 2017 was approximately 7.7 million tonnes, with approximately 222,600 tonnes of ore (100 percent basis) stockpiled at period end.

Mr. James Gowans of Washington Companies reports

 

THE WASHINGTON COMPANIES DISCLOSE ALL-CASH PROPOSAL TO ACQUIRE DOMINION DIAMOND CORPORATION FOR US$13.50 PER SHARE

 

The Washington Companies, a group of privately held North American mining, industrial and transportation businesses founded by industrialist and entrepreneur Dennis R. Washington, has made a proposal to the board of directors of Dominion Diamond Corp. for a transaction in which Washington would acquire all of the outstanding common shares of Dominion for $13.50 (U.S.) per share in cash, representing a 36-per-cent premium to Dominion's closing stock price on March 17, 2017, and a 54-per-cent premium to the price when discussions ended on March 15, 2017.