C$15 Million Private Placement Announced by Klondex Mines

Klondex Mines Ltd. (TSX:KDX) entered into an agreement with GMP Securities L.P. on a private placement of special warrants to raise aggregate gross proceeds of C$15 million, at an issue price to be determined in the context of the market.

As quoted in the press release:

Subject to the penalty provision described below, each Special Warrant will entitle the holder to receive upon exercise or deemed exercise following the Qualification Date (as defined below), one common share of the Company ( “Common Share”) for no additional consideration. The Special Warrants not already exercised will be deemed exercised at the earlier of: (a) the third business day after the date of receipt for a final prospectus to qualify, in each of the provinces of Canada, except Quebec (the “Qualifying Provinces”), the distribution of the Common Shares to be issued upon exercise or deemed exercise of the Special Warrants (the “Qualification Date”); and (b) 4:59 p.m. (Toronto time) on the date which is four months and one day following the Closing Date (as defined below).

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