Mountain Province Diamonds Announces Proposed Spin-out of Kennady Diamonds
Shares Issued and Outstanding: 80,345,558
TSX: MPV
NYSE- AMEX: MDM
TORONTO AND NEW YORK, Jan. 12, 2012 /PRNewswire/ - Mountain Province Diamonds
Inc. ("Mountain Province", the "Company") (TSX: MPV, NYSE-AMEX: MDM) is
pleased to announce that its Board of Directors has approved a proposal
to spin-out the Company's 100 percent-controlled Kennady North diamond
project into a newly incorporated company, Kennady Diamonds Inc.
Patrick Evans, President and CEO, commented: "The proposed spin-out of
Kennady North is intended to deliver greater value to Mountain Province
shareholders by unlocking the value of this highly prospective diamond
project.
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