Mountain Province Diamonds to acquire Kennady Diamonds in friendly all-share offer

January 29, 2018

On January 29, 2018, Mountain Province Diamonds Inc. (TSX and NASDAQ: MPVD) and Kennady Diamonds Inc. (TSXV: KDI) announced that they had entered into a definitive arrangement agreement pursuant to which Mountain Province will acquire all of the issued and outstanding common shares of Kennady by way of a court-approved plan of arrangement.

Under the terms of the Transaction, Kennady shareholders will receive 0.975 (the “Exchange Ratio”) of a Mountain Province common share for each Kennady common share. The implied equity value for Kennady based on the Exchange Ratio is approximately $176 million.

Miller Thomson advised the special committee of Mountain Province Diamonds with respect to this transaction with a team led by Greg Smith and that included Kevin Sorochan, Brian Fast, Elizabeth Holden and Robyn Enslen (corporate/M&A) and Gerald Courage and Neil Gurmukh (tax).