29 June 2016
06/29/2016
Stornoway Diamond Corporation (TSX-SWY; the “Corporation” or “Stornoway”) would like to remind holders of its common share purchase warrants, issued on July 8, 2014 and exercisable at C$0.90 per share (the “Warrants”, TSX:SWY.WT.A), of their expiry at 5:00 pm (Eastern time) on July 8, 2016.
Pursuant to the terms of the July 8, 2014 financing transactions with Orion Mine Finance, Diaquem Inc. and Ressources Québec (wholly-owned subsidiaries of Investissement Québec), and the Caisse de dépôt et placement du Québec, Stornoway intends to use any proceeds from the exercise of the Warrants to complete the construction of the Renard Diamond Project ahead of drawing down funds from its committed C$100 million Senior Loan Facility with Diaquem Inc. The Diaquem Senior Loan facility bears an initial interest rate of prime plus 4.75% with a ten year term.