Shares Issued and Outstanding: 210,005,810
TSX and NASDAQ: MPVD
TORONTO and NEW YORK, June 20,
2018 /CNW/ - Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX and NASDAQ: MPVD) is pleased
to announce that the nominees listed in the management proxy circular for the 2018 Annual General Meeting of Shareholders
("Annual Meeting") were elected as directors of the Company. Detailed results of the vote for the election of
directors held at the Annual Meeting in Vancouver on June 19, 2018
are set out below.
Nominee
|
Votes
For
|
% For
|
Votes
Withheld
|
% Withheld
|
Jonathan Comerford
|
101,041,422
|
94.50%
|
5,883,024
|
5.50%
|
Bruce Dresner
|
100,541,902
|
94.03%
|
6,382,544
|
5.97%
|
Karen Goracke
|
101,113,426
|
94.57%
|
5,811,020
|
5.43%
|
Peeyush Varshney
|
97,431,021
|
91.12%
|
9,493,425
|
8.88%
|
Carl Verley
|
100,502,621
|
93.99%
|
6,421,825
|
6.01%
|
David Whittle
|
100,716,836
|
94.19%
|
6,207,610
|
5.81%
|
At the Annual Meeting, KPMG LLP were re-appointed as auditor of the Company at remuneration to be fixed by the directors.
*****
Mountain 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.
Forward-Looking Statements
This news release contains certain "forward-looking statements" and "forward-looking information" under applicable
Canadian and United States securities laws concerning the business operations and financial
performance and condition of Mountain Province Diamonds Inc. Forward-looking statements and forward-looking information include,
but are not limited to, statements with respect to estimated production and mine life of the project of Mountain Province; the realization of mineral reserve estimates; the timing and amount of estimated future
production; costs of production; the future price of diamonds; the estimation of mineral reserves and resources; the ability to
manage debt; capital expenditures; the ability to obtain permits for operations; liquidity; tax rates; and currency exchange rate
fluctuations. Except for statements of historical fact relating to Mountain Province, certain
information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by
words such as "anticipates," "may," "can," "plans," "believes," "estimates," "expects," "projects," "targets," "intends,"
"likely," "will," "should," "to be," "potential" and other similar words, or statements that certain events or conditions "may",
"should" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the
statements are made, and are based on a number of assumptions and subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.
Many of these assumptions are based on factors and events that are not within the control of Mountain Province and there is no assurance they will prove to be correct.
Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements
include variations in ore grade or recovery rates, changes in market conditions, changes in project parameters, mine sequencing;
production rates; cash flow; risks relating to the availability and timeliness of permitting and governmental approvals; supply
of, and demand for, diamonds; fluctuating commodity prices and currency exchange rates, the possibility of project cost overruns
or unanticipated costs and expenses, labour disputes and other risks of the mining industry, failure of plant, equipment or
processes to operate as anticipated.
These factors are discussed in greater detail in Mountain Province's most recent Annual
Information Form and in the most recent MD&A filed on SEDAR, which also provide additional general assumptions in connection
with these statements. Mountain Province cautions that the foregoing list of important factors
is not exhaustive. Investors and others who base themselves on forward-looking statements should carefully consider the above
factors as well as the uncertainties they represent and the risk they entail. Mountain Province
believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that
these expectations will prove to be correct and such forward-looking statements included in this news release should not be
unduly relied upon. These statements speak only as of the date of this news release.
Although Mountain Province has attempted to identify important factors that could cause
actual actions, events or results to differ materially from those described in forward-looking statements, there may be other
factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those
anticipated in such statements. Mountain Province undertakes no obligation to update
forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable
securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. Statements concerning mineral
reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve estimates
of the mineralization that will be encountered as the property is developed.
Further, Mountain Province may make changes to its business plans that could affect its
results. The principal assets of Mountain Province are administered pursuant to a joint venture
under which Mountain Province is not the operator. Mountain
Province is exposed to actions taken or omissions made by the operator within its prerogative and/or determinations made
by the joint venture under its terms. Such actions or omissions may impact the future performance of Mountain Province. Under its current note and revolving credit facilities Mountain
Province is subject to certain limitations on its ability to pay dividends on common stock. The declaration of dividends
is at the discretion of Mountain Province's Board of Directors, subject to the limitations under
the Company's debt facilities, and will depend on Mountain Province's financial results, cash
requirements, future prospects, and other factors deemed relevant by the Board.
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SOURCE Mountain Province Diamonds Inc.
View original content: http://www.newswire.ca/en/releases/archive/June2018/20/c2034.html