On February 25, 2025, Mountain Province Diamonds Inc. announced a series of refinancing agreements to strengthen its financial position and support operations at the Gahcho Kué (GK) Mine in the Northwest Territories, where it holds a 49% interest alongside De Beers. These agreements include updated cost-sharing arrangements for mine decommissioning, a new US$40-million term loan and an extension of its US$177-million senior secured notes to 2027. The refinancing aims to address anticipated challenges in 2025, particularly higher costs during the winter season, while the company also seeks a C$33-million revolving credit facility to manage cash flow through the year.
Osler, Hoskin & Harcourt LLP advised Mountain Province Diamonds Inc. with a team consisting of Joanna Cameron, Dan Shea, Jessica Myers, Nikki Cargill, Disha Puri (Corporate), Edward Wooldridge, Emma Newbery (Financial Services) and Rachel Berger-Viflanzoff (articling student).
Key Contact
Partner, Corporate, Vancouver
Team
Partner, Corporate, Calgary
Partner, Corporate, Calgary
Associate, Corporate, Vancouver
Associate, Corporate, Vancouver
Partner, Financial Services, Calgary
Associate, Financial Services, Vancouver
Articling Student, Vancouver
