Mountain Province Diamonds Appoints Banks to Arrange and Underwrite US$370M Term Loan Facility

 Mountain Province Diamonds Appoints Banks to Arrange and Underwrite US$370M  Term Loan Facility  Shares Issued and Outstanding: 115,204,550 TSX: MPV NYSE MKT: MDM  TORONTO and NEW YORK, July 28, 2014 /CNW/ - Mountain Province Diamonds Inc.  ("Mountain Province", the "Company") (TSX: MPV, NYSE MKT: MDM) is pleased to  announce the appointment of three leading international banks to arrange and  underwrite a senior secured term loan facility of up to US$370M (the  "Facility") to fund the Company's share of the construction cost of the Gahcho  Kué diamond mine located in Canada's Northwest Territories. Gahcho Kué is a  joint venture between De Beers Canada Inc. (51%) and Mountain Province (49%).  Mountain Province has mandated Deutsche Bank A.G., acting through its London  Branch, Natixis S.A. and Nedbank Limited as the lead arrangers ("Lead  Arrangers") to underwrite, arrange and manage the primary syndication of the  Facility, subject to the satisfaction of certain conditions including, but not  limited to, the successful completion of due diligence and internal bank  approvals of the Lead Arrangers and agreement of Facility documentation, which  is expected prior to the end of 2014.  As at the end of June 2014, the overall project was progressing according to  plan and remains on schedule for first production during H2 2016. Mountain  Province is currently funding its share of the capital with equity and has  arranged sufficient equity to fund planned capital commitments through to the  end of 2014.  Mountain Province is being advised by Rockface Capital of the United Kingdom.  Mountain Province Diamonds is a 49% participant with De Beers Canada in the  Gahcho Kué JV located at Kennady Lake in Canada's Northwest Territories. The  Gahcho Kué Project consists of a cluster of four diamondiferous kimberlites,  three of which have a probable mineral reserve of 35.4 million tonnes grading  1.57 carats per tonne for total diamond content of 55.5 million carats.  Gahcho Kué is the world's largest and richest new diamond development  project. A 2014 NI 43-101 feasibility study report filed by Mountain Province  (available on SEDAR) indicates that the Gahcho Kué project has an IRR of  32.6%.  Qualified Person This news release has been prepared under the supervision of Carl G. Verley,  P.Geo., who serves as the qualified person under National Instrument 43-101.  Forward-Looking Statements This news release may contain forward-looking statements, within the meaning  of the "safe-harbor" provision of the Private Securities Litigation Reform Act  of 1995, regarding the Company's business or financial condition. Actual  results could differ materially from those described in this news release as a  result of numerous factors, some of which are outside the control of the  Company.    SOURCE  Mountain Province Diamonds Inc.  Mountain Province Diamonds Inc. Patrick Evans, President and CEO 161 Bay  Street, Suite 2315 Toronto, Ontario M5J 2S1  Phone: (416) 361-3562  E-mail:info@mountainprovince.com  www.mountainprovince.com  To view this news release in HTML formatting, please use the following URL:  http://www.newswire.ca/en/releases/archive/July2014/28/c8829.html  CO: Mountain Province Diamonds Inc. ST: New York NI: MNG LOAN MNA  
Press spacebar to pause and continue. Press esc to stop.