Shareholders Reminded to Vote Prior to
April 5, 2018 (proxy submission
deadline)
TORONTO, March 22, 2018 /CNW/ - Mountain
Province Diamonds Inc. (TSX and NASDAQ: MPVD) ("Mountain Province") and Kennady Diamonds
Inc. (TSX-V: KDI) ("Kennady") are pleased to announce that
the two leading independent proxy advisory firms that provide
voting recommendations to institutional investors (Institutional
Shareholder Services Inc. ("ISS") and Glass Lewis & Co.
("Glass Lewis")) have each recommended that shareholders
approve the proposed business combination of Mountain Province and Kennady pursuant to
which Mountain Province will
acquire all of the issued and outstanding common shares of Kennady
by way of a statutory plan of arrangement under the Business
Corporations Act (Ontario)
(the "Arrangement").
Recommendation to Mountain Province Shareholders
ISS and Glass Lewis have recommended that shareholders of
Mountain Province vote FOR
the ordinary resolution to approve the issuance of Mountain Province shares to be issued to
Kennady shareholders, pursuant to the Arrangement (the "Share
Issuance Resolution"). Specifically, ISS confirms that, "The
proposed arrangement makes strategic sense given that it will
result in the addition of significant and wholly-owned
diamondiferous resources, while also providing an upside to grow
resources. Moreover, the resulting issuer will benefit from
complementary assets held by the parties, which will create
potential for reduction of pre-production capital expenditures,
transportation costs and operating expenses."
Recommendation to Kennady Shareholders
ISS and Glass Lewis have recommended that shareholders of
Kennady vote FOR the special resolution to approve the
proposed Arrangement. Glass Lewis noted that, "Given the positive
elements of the deal, and absent a superior competing offer, we
believe that the proposed merger warrants shareholder support".
Additional information concerning the Arrangement and the Share
Issuance Resolution can be found in the joint management
information circular of Mountain
Province and Kennady dated March 5,
2018 (the "Circular"). An electronic copy of the
Circular is available on Mountain
Province's website at www.mountainprovince.com and on
Kennady's website at
www.kennadydiamonds.com/investors/mpvd-transaction. The Circular is
also available on SEDAR under the issuer profiles of both companies
at www.sedar.com.
Mountain
Province Meeting
The special meeting of shareholders of Mountain Province is scheduled to be held at
2:30 p.m. (Pacific Standard Time) on Monday, April 9, 2018 at the Terminal City
Club, 837 West Hastings Street, Vancouver, British Columbia, Canada V6C 1B4,
to approve the Share Issuance Resolution.
Kennady Meeting
The special meeting of shareholders of Kennady is scheduled to
be held at 1:00 p.m. (Pacific Standard Time) on
Monday, April 9, 2018 at the
Terminal City Club, 837 West Hastings Street, Vancouver, British Columbia, Canada V6C 1B4,
to approve the Arrangement.
Proxy Submission Deadlines
- Mountain Province Shareholders: 2:30
p.m. (PST) on Thursday, April 5,
2018.
- Kennady Shareholders: 1:00 p.m.
(PST) on Thursday, April 5,
2018.
Shareholder Questions
Shareholders who have questions or require assistance with
voting may contact the proxy solicitation agent of Mountain Province and Kennady, Laurel Hill
Advisory Group, at:
North America Toll Free: 1-877-452-7184
Collect Calls Outside North America: 1-416-304-0211
Email: assistance@laurelhill.com
YOUR VOTE IS
IMPORTANT - PLEASE VOTE TODAY
The Board of Directors of Mountain Province and Kennady
UNANIMOUSLY recommend that Shareholders vote IN FAVOUR of the
Arrangement
|
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
No stock exchange, securities commission or other regulatory
authority has approved or disapproved of the information contained
herein. This news release is not an offer to sell or the
solicitation of an offer to buy any securities in any jurisdiction,
nor shall there be any sale of securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful.
SOURCE Mountain Province Diamonds Inc.