6 March 2018
Mountain Province Diamonds Inc. and Kennady Diamonds Inc. are pleased to announce that today Kennady obtained an interim order from the Ontario Superior Court of Justice in respect of the acquisition by Mountain Province of Kennady by way of plan of arrangement under the Business Corporations Act (Ontario). Under the terms of the arrangement, holders of Kennady shares will be entitled to receive 0.975 common shares of Mountain Province in exchange for each common share of Kennady held, representing an implied offer price of $3.46 per Kennady share. This Exchange Ratio represents a premium of 26% to Kennady's closing price and a premium of 15% based on the 20-day volume- weighted-average-price of Mountain Province Shares on the TSX and Kennady Shares on the TSX-V, both as of close on January 26, 2018 (being the last trading day prior to the announcement of the Arrangement).