/NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS/

DUBLIN, May 4, 2018 /CNW/ - Vertigol Unlimited Company ("Vertigol") of Dublin, Ireland and Mr. Dermot F. Desmond of Crans-Montana, Switzerland – together announce that Mr. Desmond transferred 20,646,236 common shares of Mountain Province Diamonds Inc. ("MPVD") to Vertigol for consideration of CDN$3.1261 per MPVD common share, on May 4, 2018.  Mr. Desmond transferred the shares to Vertigol as part of a corporate reorganization.

Mr. Dermot F. Desmond is the ultimate beneficial owner of Vertigol.

Immediately before completion of the corporate reorganization, Mr. Desmond held 20,656,236 common shares (9.8% approximately) of MPVD and Vertigol held 31,555,322 common shares (15.0% approximately) of MPVD.  Following completion of the corporate reorganization, Mr. Desmond held 10,000 common shares of MPVD and Vertigol held 52,201,558 common shares (24.8% approximately) of MPVD. 

MPVD has 209,999,142 common shares outstanding on an undiluted basis and 213,819,473 common shares outstanding on a fully diluted basis.  On a fully diluted basis, Vertigol holds approximately 24.4% of the common share capital of MPVD.

Vertigol acquired the MPVD shares pursuant to a private corporate reorganization and holds the shares for investment purposes.

No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein. This news release is not an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

SOURCE Mountain Province Diamonds Inc.

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