Klondex Mines Closes $42.6 M Financing

 Klondex Mines Ltd. (TSX:KDX,OTCQX:KLNDF) closed its placement offering of subscription receipts for total gross proceeds of $42,630,000, on the sale of 29,400,000 subscription receipts.

As quoted in the press release:

Each Subscription Receipt issued pursuant to the Offering was sold at a price of C$1.45 and will be deemed to be converted upon satisfaction of the Escrow Release Conditions (as defined below), without payment of any additional consideration, into one common share of the Company (an “Underlying Share”). The Subscription Receipts provide for appropriate adjustments to be made in the event of share dividends, consolidations, distributions and other forms of capital reorganizations.

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