Dominion Diamond Corporation Announces Completion of Plan of Arrangement | Business Wire

CALGARY, Alberta & MISSOULA, Mont.–(BUSINESS WIRE)–Dominion Diamond Corporation (TSX: DDC, NYSE: DDC) (“Dominion” or the

“Company”) and The Washington Companies (“Washington”), a group of

privately held North American mining, industrial and transportation

businesses founded by industrialist and entrepreneur Dennis R.

Washington, today announced the completion of the previously-announced

plan of arrangement (the “Arrangement”) pursuant to which Northwest

Acquisitions ULC, an entity affiliated with Washington, acquired all of

the issued and outstanding common shares of the Company for US$14.25 per

share in cash.

Dominion will operate as a standalone, private company. Patrick Evans

has been appointed Chief Executive Officer, effective immediately. The

Dominion Board of Directors has been reconstituted with new directors

who possess a mix of relevant business and mining expertise, including

Rolin Erickson, President of Montana Resources, a copper and molybdenum

mine owned by Washington.

Patrick Evans, CEO of Dominion, said, “I am pleased to join Dominion

Diamond at this exciting time for the Company. I will work relentlessly

with management and our talented employees to help realize the long-term

potential of Dominion’s world-class assets, specifically by extending

the life of the Ekati mine, investing to develop the Jay Project and

reinvigorating our exploration program. I have long admired Dominion

Diamond’s deep ties to the Northwest Territories and Nunavut and to

Yellowknife in particular, and I look forward to continuing that legacy

with the full support and resources of The Washington Companies.”

“This is an exciting day for Dominion Diamond and The Washington

Companies,” said Lawrence R. Simkins, President of Washington. “We fully

support Dominion’s existing strategy and its exceptional employees, and

we are confident that Dominion will continue to offer long-term benefits

to all of the Company’s stakeholders.”

“The Washington Companies and Dominion Diamond have proven track records

as responsible, innovative operators,” said Dennis Washington, Founder

of The Washington Companies. “With today’s closing, I am excited to join

forces with Dominion as well as with our respected partner at the Diavik

mine – Rio Tinto. We look forward to owning and operating Dominion for

decades to come, with a focus on maintaining safe and prosperous

business operations in the Northwest Territories.”

The transaction, which was announced on July 17, 2017, has been approved

by Dominion shareholders, the Minister of Innovation, Science and

Economic Development under the Investment Canada Act and the

Commissioner of Competition under the Competition Act. It is expected

that the common shares of the Company will be delisted from the Toronto

Stock Exchange at the end of trading on November 2, 2017, and suspended

from trading on the New York Stock Exchange at the end of trading on

November 1, 2017.

Shareholders who have questions or require assistance with submitting

their shares to the Arrangement, 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 inquiries@canstockta.com.

About Patrick Evans
Patrick Evans is a senior

mining executive with operating experience across a wide range of

commodities including diamonds, platinum, gold, copper, nickel and

uranium. His depth of experience ranges from grassroots exploration,

particularly for diamonds, to project permitting and development and

mine operations. He has been actively involved in the diamond industry

in the Northwest Territories for 20 years, most recently as president

and CEO of Mountain Province Diamonds and also as President and CEO of

Kennady Diamonds.

About Dominion Diamond Corporation

Diamond Corporation is a Canadian mining company and one 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.

About The Washington Companies
The Washington

Companies, founded by industrialist and entrepreneur Dennis R.

Washington, are privately held companies active in the core industries

of mining, rail and marine transportation, aviation, environmental

remediation and restoration services, and heavy equipment sales and

service. The companies are headquartered throughout Montana, the Pacific

Northwest and western Canada and conduct business internationally.

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