Dominion Diamond Mines Reaches Agreement on Key Terms With the Washington Companies to Sell Substantially All of Its Assets

CALGARY, Alberta — Dominion Diamond Mines ULC (“Dominion” or the “Company”) announced today that it has signed a letter of intent (“LOI”) with an affiliate of The Washington Companies (“Washington”) under which an entity to be managed by Washington would acquire substantially all of Dominion’s assets for approximately US$126 million in cash and the assumption of substantially all of Dominion’s operating liabilities. Washington has also agreed to provide Dominion up to US$60 million in short-term debtor-in-possession (“DIP”) financing. Read More

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