Shareholders at the June 30 meeting overwhelmingly supported the delisting and the company's plan to relocate its incorporation from Ontario to British Columbia. While the delisting will proceed, the corporate migration remains subject to final regulatory approvals. The company, which maintains a 49% stake in the Gahcho Kué diamond mine, is currently managing significant leadership vacancies, including three open board seats and the need for a new auditor following the resignation of KPMG LLP.
In section Releases
Mountain Province Diamonds to Delist from TSX Amid Restructuring
Mountain Province Diamonds is preparing to exit the Toronto Stock Exchange following shareholder approval for a voluntary delisting. The move, set for July 17, 2026, marks a pivotal shift for the company as it navigates ongoing financial challenges and explores potential restructuring, including a possible go-private transaction.
Beyond the delisting, the company secured disinterested shareholder approval for a USD$1 million facility fee tied to an amended bridge loan agreement with Dunebridge Worldwide Ltd. This vote was notably complex, as shares held by related parties—including those controlled by Dermot Desmond—were excluded to comply with minority protection rules. As Mountain Province pursues this restructuring, management continues to grapple with liquidity pressures and the necessity of stabilizing its debt obligations under its various credit facilities and senior secured notes.
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