BRIEF-Klondex to acquire the hollister mine

Mon Jul 25, 2016 4:51pm EDT
 
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July 25 (Reuters) - Klondex Mines Ltd

* Klondex announces agreement to acquire the hollister mine and c$100 million subscription receipt offering

* Intends to use net proceeds of offering to fund cash purchase price of acquisition

* To acquire carlin interest for $63 million payable to waterton in cash, $17 million payable by delivery of secured promissory note

* Company has agreed to acquire from waterton all of membership interests of carlin resources, llc

* To use net proceeds of offering for exploration growth at hollister mine, esmeralda mine and development at hollister mine

* To acquire carlin interest for payment of issuance on acquisition closing by company to waterton of 5 million warrants Source text for Eikon: Further company coverage: