Skip to main content

Market Overview

Dominion Diamond Announces Receipt of Investment Canada Act Approval


Dominion Diamond Corporation (TSX:DDC, NYSE:DDC) (the "Company" or
"Dominion") today announced that The Washington Companies has received Investment
Canada Act
approval in connection with the previously-announced plan
of arrangement (the "Arrangement"), pursuant to which Northwest
Acquisitions ULC (the "Purchaser"), an entity affiliated with The
Washington Companies, has agreed to acquire all of the issued and
outstanding common shares of the Company for US$14.25 per share in cash.
The Arrangement has previously received shareholder approval, court
approval, and clearance under the Competition Act (Canada). No further
regulatory or shareholder approvals are required in connection with the

The Arrangement is expected to be completed on or about November 1,
2017, subject to the satisfaction or waiver of the remaining conditions
of closing.

Shareholders are encouraged to submit their shares to the Arrangement.
Shareholders who have questions or require assistance with submitting
their shares, including with respect to completing the applicable letter
of transmittal, are asked to contact AST Trust Company (Canada), who is
acting as depositary under the Arrangement, at 1-800-387-0825 (toll free
in North America) or at 416-682-3860 (collect outside North America), or
by email at

About Dominion Diamond Corporation
Diamond Corporation is a Canadian mining company and one of the world's
largest producers and suppliers of premium rough diamond assortments to
the global market. The Company operates the Ekati Diamond Mine, in which
it owns a controlling interest, and owns 40% of the Diavik Diamond Mine,
both of which are located in the low political risk environment of the
Northwest Territories in Canada. It also has world-class sorting and
selling operations in Canada, Belgium and India.

Forward-Looking Statements
Certain statements
included in this news release may be considered forward-looking. Such
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results, performance or achievements to be
materially different from those implied by such statements, and
therefore these statements should not be read as guarantees of future
performance or results. All forward-looking statements are based on the
Company's current beliefs as well as assumptions made by and information
currently available to the Company and relate to, among other things,
anticipated timing of closing of the transaction and the satisfaction of
closing conditions including, without limitation, the operation and
performance of the Dominion business in the ordinary course until
closing of the transaction, maintenance by Dominion of a minimum cash
balance in the amounts as specified in the arrangement agreement dated
July 15, 2017 entered into by and between Dominion and the Purchaser
(the "Arrangement Agreement") with respect to the Arrangement, and
compliance by Dominion with various covenants contained in the
Arrangement Agreement.

Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. Due to risks and uncertainties, including the risks and
uncertainties identified by the Company in its public securities filings
available at
actual events may differ materially from current expectations. The
Company disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.

For more information, please visit

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at