Shares Issued and Outstanding: 210,005,810
TSX and
NASDAQ: MPVD
TORONTO and NEW YORK, June 20,
2018 /PRNewswire/ - 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.