Mountain Province Diamonds Finalizes Major Refinancing Plans for Future Growth

Mountain Province Diamonds Completes Key Refinancing Transactions

Introduction
Mountain Province Diamonds Inc. has announced the successful closure of significant refinancing transactions aimed at bolstering its operations and ensuring capital requirements are met. This development is crucial for the company's continuous growth and ability to navigate the challenging market conditions that are often present in the diamond mining sector.

Details of the Refinancing Transactions

The closing of these refinancing transactions comes in direct response to the company’s earlier announcement dated February 25, 2025. In conjunction with this closure, Mountain Province has submitted a funding request for $20 million under a bridge credit facility agreement established with Dunebridge Worldwide Ltd. This agreement serves as a key financial instrument to support the company during a transitional phase.

Mark Wall, President and CEO of Mountain Province Diamonds, expressed his satisfaction with the completion of the refinancing arrangements. He articulated the importance of these transactions in addressing reclamation liabilities associated with De Beers—its partner in the GK Mine located in Canada’s Northwest Territories. Furthermore, the restructuring has also facilitated an immediate infusion of capital necessary to address a projected cash flow deficit for 2025. In addition to these advantages, the terms of the Second Lien Notes have been extended until December 2027, providing additional financial breathing room for the company.

Importance and Support

Wall also acknowledged the critical support received from key stakeholders, including Mr. Dermot Desmond, and emphasized the cooperation from the holders of the Second Lien Notes and De Beers throughout the refinancing process. Their collaborative effort underscores the confidence shown in Mountain Province’s strategic plans moving forward.