Renard Diamond Mine

On July 8, 2014, Stornoway Diamond Corporation (Stornoway) announced that it closed its previously announced financing transactions with Orion Mine Finance (Orion), Diaquem Inc. and Ressources Québec (wholly-owned subsidiaries of Investissement Québec), and the Caisse de dépôt et placement du Québec (Caisse), intended to provide a comprehensive funding package for the construction of the Renard Diamond Project, located approximately 250 km north of the Cree community of Mistissini and 350 km north of Chibougamau in the James Bay region of north-central Québec.

In total C$946 million was funded, or committed for funding, through a combination of senior and subordinated debt facilities, equity issuances, an equipment financing facility with Caterpillar Financial, and the forward sale of diamonds. Taken together, these transactions represent the largest ever project financing package for a publicly listed diamond company.

Further information can be found on Stornoway's website.

Stornoway is a leading Canadian diamond exploration and development company.

Orion is a mining-focused investment business with approximately US$1.4 billion under management (as of March 31, 2014) specializing in providing flexible capital investment solutions to junior mining companies in the base and precious metals sector.

Investissement Québec is a public corporation whose mission is to contribute to Québec's economic development in accordance with Government of Québec's economic policy.

Caisse is a financial institution that manages funds primarily for public and private pension and insurance plans, with C$200.1 billion in net assets held as of December 31, 2013.