By Sheri Kasprzak
New York, March 30 - Klondex Mines Ltd. said it has concluded its previously announced private placement for C$7,312,500, including the exercise of a greenshoe.
The company sold 3.25 million units at C$2.25 each, including the over-allotment option for 500,000 units exercised by agent Quest Securities Corp.
The units consist of one share and one half-share warrant with each whole warrant exercisable at C$3.00 for 18 months.
The expiry of the warrants may be accelerated if the company's stock trades above C$4.00 for more than 20 consecutive trading days.
The deal was negotiated on March 9 as a C$6,187,500 offering of 2.75 million units. The price per share was set at an 11.4% discount to the company's closing stock price of C$2.54 on March 8.
Klondex plans to use the proceeds for work at the Fire Creek property and for working capital and general corporate purposes.
Based in Vancouver, B.C., Klondex is a mineral exploration company.
| Issuer: | Klondex Mines Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$7,312,500
|
| Units: | 3.25 million (includes greenshoe for 500,000 units)
|
| Price: | C$2.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$3.00
|
| Placement agent: | Quest Securities Corp.
|
| Pricing date: | March 9
|
| Settlement date: | March 29
|
| Stock symbol: | Toronto: KDX
|
| Stock price: | C$2.72 at close March 9
|
| Stock price: | C$2.93 at close March 29
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
