Stornoway Receives Notice of Delisting Review by TSX

Press Release

LONGUEUIL, Quebec, Aug. 22, 2019 — Stornoway Diamond Corporation (TSX-SWY; the “Corporation” or “Stornoway”) announced today that the Toronto Stock Exchange (“TSX”) has notified the Corporation that it is reviewing the eligibility of the Corporation’s securities for continued listing on the TSX pursuant to Part VII of the TSX Company Manual (the “Manual”).

The Corporation is being reviewed under the TSX’s remedial review process and has been granted 120 days to comply with all requirements for continued listing. If the Corporation cannot demonstrate that it meets all TSX requirements set out in part VII of the Manual on or before December 20, 2019, the Corporation’s securities will be delisted 30 days from such date. The Corporation’s listed shares (TSX – “SWY”) and convertible debentures (TSX – “SWY.DB.U”) will continue to trade on the TSX during the remedial review process. There can be no assurance that the Corporation will successfully regain compliance with the TSX listing requirements within this time period, in which case the Corporation’s common shares and convertible debentures would cease to trade on the TSX and, as stated in the Corporation’s August 14 press release, may not continue to trade on any other trading platform.

The TSX notification and review does not affect the Corporation’s business operations or applicable Canadian reporting requirements.

About Stornoway Diamond Corporation

Stornoway is a leading Canadian diamond exploration and production company listed on the Toronto Stock Exchange under the symbol SWY and headquartered in Montreal. Stornoway owns a 100% interest in Renard Mine, Québec’s first diamond mine.

About the Renard Diamond Mine

The Renard Diamond Mine is Quebec’s first producing diamond mine and Canada’s sixth. It is 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. Construction on the project commenced on July 10, 2014, and commercial production was declared on January 1, 2017. Average annual diamond production is forecast at 1.8 million carats per annum over the first 10 years of mining. Readers are referred to the technical report dated January 11, 2016, in respect of the September 2015 Mineral Resource estimate, and the technical report dated March 30, 2016, in respect of the March 2016 Updated Mine Plan and Mineral Reserve Estimate for further details and assumptions relating to the project.

On behalf of the Board
STORNOWAY DIAMOND CORPORATION
/s/ “Patrick Godin”
Patrick Godin
President and Chief Executive Officer

For more information, please contact Alexandre Burelle (Manager, Investor Relations and Business Development) at 450-616-5555 x2264, aburelle@stornowaydiamonds.com
or toll free at 1-877-331-2232

Pour plus d’information, veuillez contacter Alexandre Burelle (Directeur, Relations avec les investisseurs et développement des affaires) au 450-616-5555 x2264, aburelle@stornowaydiamonds.com
ou sans frais au 1 877 331-2232

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