At an annual shareholder meeting, Mountain Province Diamonds was granted an approval to voluntarily delist from the TSX exchange from July 17, 2026.
About 73% of shareholders voted in favour of the decision, which required the approval of at least two thirds of the votes cast on such resolution.
The company will also move from Ontario into British Columbia under the Business Corporations Act.
"The company continues to pursue a potential restructuring transaction among its shareholders and creditors, which may include a "go-private" transaction, share consolidation or one or more other transactions," Mountain Province said in a statement.
Mountain Province, one of Canada’s few remaining diamond producers and an operator of the Gahcho Kué mine, has recently has sold $5 million worth of rights, title and interest in the mine’s diamond production to its major shareholder Dunebridge Worldwide in a move towards a "broader restructuring."
At the time, the company’s president and CEO Jonathan Comerford noted that its cash flow suffered due to a sustained pressure on the global diamond market, ongoing U.S. tariff measures, and the conflict in the Middle East which exacerbated "an already weak pricing environment."
Theodor Lisovoy, Managing Editor, Rough&Polished
