26 May 2026
TORONTO and NEW YORK, May 26, 2026 /CNW/ - Mountain Province Diamonds Inc. ("Mountain Province" or the "Corporation") (TSX: MPVD) (OTC: MPVD) announces today that the Corporation has sent and filed, using notice-and-access, its notice of meeting, management information circular (the "Circular") and related documents (collectively, the "Meeting Materials") to the holders (the "Shareholders") of common shares of the Corporation (the "Shares") in connection with the annual and special meeting of Shareholders to be held virtually at meetnow.global/MZKFR7U at 11:00 a.m. (Eastern Time) on June 30, 2026 (the "Meeting").
The Meeting Materials will be filed on the Corporation's SEDAR+ profile at www.sedarplus.ca and will be accessible on the Corporation's website at www.mountainprovince.com.
In addition to the routine annual meeting matters, at the Meeting, Shareholders will be asked to: (i) re-approve the Corporation's long-term equity incentive plan as required under the TSX Company Manual (the "Manual"); (ii) approve an ordinary resolution (the "Facility Fee Resolution") approving a US$1,000,000 facility fee (the "Facility Fee"); (iii) approve an ordinary resolution (the "Delisting Resolution") approving the voluntary delisting of the Shares (the "Delisting") from the Toronto Stock Exchange ("TSX"); and (iv) approve a special resolution (the "Continuance Resolution") authorizing the continuance of the Corporation (the "Continuance") in British Columbia as a company continued under the Business Corporations Act (British Columbia) ("BCBCA") from Ontario under the Business Corporations Act (Ontario) ("OBCA") .
The purpose of the Delisting and/or the Continuance is to, if effected, facilitate a potential restructuring transaction involving the Corporation, its creditors and its securityholders, including Shareholders. Such a restructuring transaction may include a consolidation of the Shares that could, as a result, effectively take the Corporation private (a "going-private transaction"). The ratio and terms upon which the Corporation may effect a consolidation of its Shares has not been determined; however a consolidation of the Shares could have the effect of eliminating the shareholdings of a considerable number of Shareholders, who could receive little or no compensation for their Shares.