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
Partner, Financial Services, Calgary
Associate, Financial Services, Vancouver
Associate, Tax, Vancouver
