Mountain Province Diamonds arranges C$100m in private financing

Precious-gem project developer Mountain Province Diamonds on Tuesday announced that it had raised C$100-million in private placements for use in construction of the Gahcho Kué project, located in Canada’s Northwest Territories. The TSX- and NYSE MKT-listed firm reported that a syndicate of underwriters led jointly by BMO Capital Markets, RBC Capital Markets and Scotia Capital had agreed to buy 15-million common shares on a bought-deal basis, at C$5 apiece for gross proceeds of C$75-million.