Klondex Mines to raise C$15 million via placement of special warrants

Proceeds used for development of the Fire Creek gold project in Nevada

By Devika Patel

Knoxville, Tenn., Sept. 30 - Klondex Mines Ltd. said it plans a C$15 million private placement of special warrants.

The company will sell the special warrants at a price to be determined in the context of the market. The special warrants are convertible into common shares.

Settlement is expected Oct. 16.

The deal will be conducted by a syndicate of agents led by GMP Securities LP and including MGI Securities Inc., Mackie Research Capital Corp., M Partners Inc., Euro Pacific Canada Inc., Jones, Gable & Co. Ltd. and PI Financial Corp. on a best-efforts basis.

Proceeds will be used for development of the Fire Creek gold project in Nevada, general working capital requirements and debt repayment.

Vancouver, B.C.-based Klondex is a gold exploration company.

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