Shares Issued and Outstanding: 210,417,473
TSX and
OTCQX: MPVD
TORONTO and NEW YORK, Sept. 9,
2020 /PRNewswire/ -- Mountain Province Diamonds Inc.
("Mountain Province", the
"Company") (TSX and OTCQX: MPVD) is pleased to announce that the
nominees listed in the management proxy circular for the 2020
Annual General & Special Meeting of Shareholders ("Annual
Meeting") were elected as directors of the Company.
Detailed results of the vote for the election of directors at
the Annual Meeting held virtually on September 9, 2020 are set out below.
Nominee
|
Votes
For
|
%
For
|
Votes
Withheld
|
%
Withheld
|
Jonathan
Comerford
|
84,967,999
|
97.54%
|
2,146,759
|
2.46%
|
Stuart
Brown
|
84,965,619
|
97.53%
|
2,149,139
|
2.47%
|
Brett
Desmond
|
84,971,898
|
97.54%
|
2,142,860
|
2.46%
|
Karen
Goracke
|
85,003,253
|
97.58%
|
2,111,505
|
2.42%
|
Tom
Peregoodoff
|
84,100,517
|
96.54%
|
3,014,241
|
3.46%
|
Dean
Chambers
|
85,002,214
|
97.57%
|
2,112,544
|
2.43%
|
Ken
Robertson
|
85,001,864
|
97.57%
|
2,112,894
|
2.43%
|
At the Annual Meeting, KPMG LLP were re-appointed as auditor of
the Company at remuneration to be fixed by the directors. The
Company's Long Term Equity Incentive Plan together with all
unallocated options, rights and other entitlements thereunder were
re-approved by a majority of shareholders.
About Mountain Province Diamonds Inc.
Mountain Province Diamonds is a 49% participant with
De Beers Group in the Gahcho Kué diamond mine located in
Canada's Northwest Territories. The Gahcho Kué Joint
Venture property consists of several kimberlites that are actively
being mined, developed, and explored for future development. The
Company also controls 67,164 hectares of highly prospective mineral
claims and leases immediately adjacent to the Gahcho Kué Joint
Venture property that include an indicated mineral resource at the
Kelvin kimberlite and inferred mineral resources for the Faraday
kimberlites.
For further information on Mountain Province Diamonds and to
receive news releases by email, visit the Company's website at
www.mountainprovince.com
Caution Regarding Forward Looking Information
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.
Contact: Stuart Brown, President,
Chief Executive Officer, and Director, Phone: (416) 361-3562,
E-mail: info@mountainprovince.com; Keyvan
Salehi, Vice President, Corporate Development, Phone: (416)
361-3562, E-mail: info@mountainprovince.com