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Harry Winston Diamond Corporation
HWD ("Harry Winston") reports that it has been served with a formal
Notice of Discontinuance of the court action brought by C. Fipke Holdings Ltd
against BHP Billiton Canada Ltd, Harry Winston, Stuart Blusson, Archon
Minerals and various associated companies. The court action related to Harry
Winston's proposed purchase of BHP Billiton's interests in the Ekati diamond
mine. Harry Winston has been advised by BHP Billiton that all of its joint
venture partners have agreed to waive their rights of first refusal in respect
of the sale by BHP Billiton to Harry Winston pursuant to their existing
purchase agreements. The discontinuance of the action and waivers of the
rights of first refusal permit the transactions between Harry Winston and BHP
Billiton to proceed, subject to satisfaction of closing conditions, including
regulatory approvals.
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