Stornoway Diamond Corporation announced that Stornoway along with its material subsidiaries entered into a binding bridge financing agreement the Bridge Financing Agreement, with certain secured lenders and key stakeholders providing for a senior secured bridge credit facility to ensure the corporation continues to operate uninterrupted in accordance with its plan during the strategic review process with a view to seek out proposals for, and pursue, a restructuring transaction; and The strategic review process the corporation initiated earlier this year, aimed at ensuring the long-term viability of the Renard Diamond Mine, continues and a formal sale and investment solicitation process (the “SISP Process”) was launched to seek out proposals for a restructuring transaction. Under the terms of the Bridge Financing Agreement, Diaquem Inc., an affiliate of Investissement Québec, has agreed to advance to one or more of the SWY Parties an estimated amount of up to $11.7 million by way of access to the funds available in a senior loan reserve account maintained by Stornoway’s subsidiary, Stornoway Diamond (Canada) Inc. In addition, amounts equivalent to royalty payments to be made by SDCI to Diaquem under the existing royalty agreement, up to an estimated amount of $1.9 million, and to interest payments accruing under the senior loan agreement between SDCI and Diaquem, up to an estimated amount of $2.5 million, have agreed to be advanced by Diaquem. The Bridge Financing Agreement also provides that the buyers under the amended and Restated Purchase and Sale Agreement entered into on October 2, 2018, in proportion to their respective commitments, will advance an amount equivalent to the stream net proceeds payable under the Stream Agreement to the SWY Parties, up to an estimated amount of $5.9 million.