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Klondex Mines completes acquisition of two mines in Nevada

Tuesday, October 4, 2016 7:17
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Nevada-focused gold and silver play Klondex Mines Ltd (TSE:KLDX, NASDAQ:KDX) has closed the acquisition of the Hollister and Esmeralda mines announced in July.

The assets were acquired from Waterton Splitter in a cash plus shares and warrants deal.

Klondex coughed up US$80mln in cash to Waterton Splitter plus 5mln warrants, exercisable at C$6 a pop, and 2.6mln common shares.

Klondex already owns three producing assets: the Fire Creek Mine; the Midas Mine and ore milling facility; and the recently acquired True North Gold Mine (formerly the Rice Lake Mine) and a mill in Manitoba, Canada.

Fire Creek and Midas are both located in Nevada, USA, as are the newly acquired Hollister and Esmeralda mines.

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